The Importance of Pivots

A pivot is a strategic shift designed to test a new fundamental hypothesis about the product, business model, or engine of growth. Ries emphasizes that a pivot requires keeping one foot rooted in what has been learned so far while making a fundamental change in strategy. For example, IMVU had to shift its focus from early adopters to mainstream customers, who had different and more demanding requirements. 'A pivot requires that we keep one foot rooted in what we’ve learned so far, while making a fundamental change in strategy in order to seek even greater validated learning,' Ries states.