The Spark Partners continue their conversation on pivots, looking at real world examples of both successful and unsuccessful pivots. Netflix sets the gold standard, having pivoted from DVD movie distribution towards worldwide media streaming, while Kodak is bound to flop as a pharmaceutical producer after consistently failing to make any truly strategic pivots in recent decades. Successful pivots are about problem solving and might mean totally transforming your business to produce a true innovation. Is your business changing direction to meet unmet needs, or are you just looking for new ways to continue business as usual?
What is your business’s value proposition?
What unmet needs are you trying to fill?
Are you willing to change your entire business model to grow?
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