What is Pivoting?
Realizing the need for a pivot in time is crucial to avoid unnecessary expenses.
A real-life pivot example
A gay community platform, called Fabulis.com, was trying to succeed as the Facebook, Yelp and then Groupon of gay people. It was hard to admit the harsh reality, but the unpromising numbers spoke for themselves: the founders had to reconsider their concept. After 3 months, the site relaunched as Fab.com, a new flash sales e-commerce site for indie designer housewares, accessories, clothing, and jewelry. The success then happened rapidly: from 175,000 members in 2011 June to over 10 million until December 2012. The company then was successfully acquired by PCH International in 2015.