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.

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.

Successful pivots often involve changing operational processes, such as product development and performance metrics, while maintaining a similar organizational structure.

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

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

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

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

Pivots are risky and can lead to failure if they do not succeed within the available capital and resources, highlighting the importance of careful planning and execution.

Pivots are not just for startups that fail; in fact, many successful startups have pivoted to find their success.