Purpose and the Art of the Pivot

Posted by Ventures Online on Fri Oct 09 2020
A wise man once said, “Never fall in love with a model, fall in love with solving a problem”. The truth is the landscape in which business operates is constantly evolving, reacting to forces too big to stop and at times so silent you never see them coming. Those that hold on to the old even when the world around them is made newer each year, fail. Longevity belongs to the businesses that are able to rise and fall with the tides whilst remaining true to the essence of why they exist. This is what we call the art of the purposeful pivot.

One example is that Youtube, which started life as a video dating website with the slogan, “Tune in, Hook up” that failed to gain any traction. Unsurprisingly. At the core of that idea was connection and people. Arguably the video sharing giant has stayed true to its mandate. Everyday thousands of people share pieces of their lives with the world on that platform. Everyday millions of people connect with content and each other on that platform. For some of us half the fun is reading the comments section under the videos we watch.

The lesson here is simple. Don’t fall in love with your idea, don’t fall in love with your business model fall in love with the problem you’re trying to solve, and hold onto your purpose for dear life. As the world continues to change and expand in response to pandemics, politics, popular culture and a myriad of other things, the entrepreneurs that thrive don’t fight the change, they embrace it. They say, “The reason we do what we do matters” and find a way to continue to serve that reason the best way possible for the times. So, in your journey tie yourself and your business to a compelling mission, but keep your mind open to the various roads and highways to your success.