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"a pivot is a substantive change to one or more of your business model facets, be it your product, your customer segment, your channel, pricing logic, resources, activities, or partners. But note that pivoting market shapers should keep one foot on the ground, true to the origins of the metaphor in basketball. In other words, apply your learnings from past success and failure to the new area. Note, too, that pivoting does not imply desperation. It can be a clever leadership tool to discover growth opportunities.
At its best, pivoting is a systematic, hypothesis-driven process of experimentation (hence overlap with another of our Es), to drive and evaluate market opportunities. You translate your market vision into falsifiable business model hypotheses, test the hypotheses using minimum viable set-ups, then decide whether to persevere with the existing model, or pivot by changing some elements.
Pivots continue after the start-up phase. Many a successful company have pivoted both in their start-up phase and over longer periods."
Trecho retirado de SMASH: Using Market Shaping to Design New Strategies for Innovation, Value Creation, and Growth de Kaj Storbacka e Suvi Nenonen.
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