A pivot is not just a change; it involves maintaining an anchor point while making significant adjustments to how a company operates, such as changing its business model or go-to-market strategy.

Expecting pivots as a regular part of business is crucial; companies must be prepared to make wholesale changes to remain competitive.

A pivot simply means changing your idea, especially when you're at the earliest stages of your company. It should feel lightweight and is a normal part of the process, particularly pre-launch or shortly after launch.

When a company's mission and culture remain consistent, pivots can be more successful, as the core competencies of the organization stay intact.

Pivots are a common aspect of entrepreneurship; successful entrepreneurs learn from their experiences and adapt their strategies accordingly.

A pivot can involve multiple steps, such as transitioning from using taxi drivers for deliveries to establishing a warehouse and using refrigerated trucks, showcasing the complexity of successful pivots.

A pivot should be a rare occurrence, typically involving a change in customer or problem, while iteration involves changing the solution.

Pivots are essential to entrepreneurship because they help companies adapt and find product-market fit, whether in the early stages or later on.

Many successful companies, like Apple and Amazon, have undergone significant pivots, demonstrating that adaptation is key to long-term success.