If you saw the Google Talks with Eric Ries, you probably had a laugh a joke he cited: A woman says to a guy ‘I’m not leaving you; I’m just pivoting to another man.’ According to Ries the word pivot in Silicon Valley is widely overused. Everybody who is experiencing some difficulty simply pivots their project, adjusts the product in some way and tries once more. In Google Talks Ries explains his concept of lean startup and tries to show how the pivot is helpful only if it enables the growth in number of clients.
But you don’t need to pivot only if your business slows down. Great example of a healthy pivot answering the market needs is the story of Peter Šoltés and the company Promiseo. Although at the time when Peter was starting, he probably didn’t have a clue about the words startup or pivot.
At the age of 13 Peter started a web page. After the first request to publish an online advertisement he suddenly found himself looking for strategies to increase traffic on his pages and earn money on advertisement. Later he acquired customers and helped them to increase the number of visitors on their internet pages. His 18th birthday Peter spent at filing forms to establish his company Soltes.eu s.r.o.
The company grew in number of employees and their services extended from SEO to PPC campaigns, A/B testing or social media management and creating of buzz campaigns. The growth of the company and entrance to new markets abroad required another change – the name. And so Promiseo came to existence, a name much more attractive to home based as well as foreign customers.
In startup world the pivot is perceived as a way how to keep the company afloat when the product is sinking to the ground. But there is a second option that should not be forgotten. Pivot for the sake of extension and further growth of business.
Written By: Dorota Liptáková