Pivot
A significant change in a startup's direction, product, market, model, or customer, while keeping what has been learned. Not failure, but a course correction based on evidence.
Why it matters
Many successful companies are pivots from an original idea that was not working; knowing when to pivot versus persevere is one of the hardest founder judgments. A good pivot keeps the learning and changes only what the evidence demands.
For example
Slack began as a game company; when the game failed, the team pivoted the internal chat tool it had built into the product.
Related terms
Go deeper
See how founders actually handle this on Growing and marketing, part of the Starting Up hub.