What is a pivot

1. What is a Pivot

2. What : Pivoting - A term used for course correction in strategy for a startup which leads to a change in its product, and operations, with at least one constant as a hinge. During a major pivoting exercise, the underlying vision of the company is also susceptible also change.

3. It occurs when entrepreneurs realise that some element of their product or strategy is flawed. Pivoting is often a different method for achieving a vision. Occurs mostly due to failures, customer feedback or investor pressure. Why

4. It mostly takes in startups in their developmental and validation stage. Large companies undergo a pivot change when threatened with market disruption. When

5. Across startups such as in e-commerce, telecom, IT, manufacturing, retail or healthcare. Where:

6. Instagram - a company which pivoted from Burbn , a location based HTML5 app Flickr - Photo-sharing platform which emerged from tools of Game Neverending , an online multiplayer game Twitter - The microblogging site emerged from a broadcasting session in podcaster Odeo YouTube - Morphed from Tune In Hook Up, a video dating website, started by co founders PortalPlayer - Started as a web based MP3 Player morphed in to maker of silicon chips for Apple iPods Source: VentureBeat.com , TheLeanStartup Successful Global Pivots :