A Change In Strategy Without A Change In Vision

Fast Company has recently started a new series called “The Pivot.” Fittingly, they are kicking off this new video series with some interviews with Eric Ries, the author of the recent book “The Lean Startup,” which focuses in on this critical idea of “pivoting” within a company.

During the course of his entrepreneurial adventures, he realized that some of the most iconic companies of our time–Twitter, YouTube, Groupon–had abruptly changed course before they achieved success. If they hadn’t, Twitter would have stuck with audio podcasting, YouTube would have been a video dating site, and Groupon would have continued organizing political protests (and you likely would have never heard of them). Virtually every startup he could think of had pivoted at one time or another.

What is a pivot? Ries puts it this way: “A change in strategy, without a chance in vision.” Be sure and watch the video here.

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