What is a pivot and when should it be done?

Pivot is a strategic shift in the development of a product or business when the original idea or approach does not yield the expected results. It involves changing direction while retaining some existing resources or technologies.

When to pivot:

• If the product does not resonate with the target audience.
• If the market or conditions have changed sharply.
• If new data shows that the current strategy is ineffective.
• When new, more promising opportunities arise than the current ones.

Pivot helps avoid significant losses of time and resources, allowing adaptation to the actual market needs and increasing the chances of success. It is important that the pivot is based on data analysis and understanding the reasons for the current strategy's failure.