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The Most Successful Business Pivots Ever

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Here, you will find a list of some of the most successful business pivots ever.

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The Most Successful Business Pivots Ever

  1. 1. TheMost Successful BusinessPivots Ever
  2. 2. A pivot is when you make a massive change in your business strategy.
  3. 3. Pivoting is sometimes crucial for business for: • Keeping in-tune with the rapid pace of change • Pursuing new opportunities to expand revenue • Reinvigorating a business
  4. 4. Three signs you might need to pivot: • Your target customers are not praising your product nor buying rapidly enough • Investors aren’t buying your product or your company • You’re product is too broad or too limited
  5. 5. Below you will find a list of some of the most successful business pivots ever.
  7. 7. The most legendary pivot in social media history is the transformation of Odeo, a network where people could find and subscribe to podcasts to a status-updating micro-blogging platform called Twitter. Catalyst: iTunes added podcast making Odeo obsolete
  8. 8. PayPal was initially an early application allowing PDA devices to “beam” payments before it became the preferred online payment system for eBay sellers then the internet. Catalyst: A merger with a financial services company X.com identified new opportunities.
  9. 9. The Point was a fundraising site that only funded causes once donations reached a certain number. A side project called Groupon was tested locally to see if the concept could be used in marketing. Catalyst: Need for new revenue.
  10. 10. Nokia made rubber goods, electronics, and telecommunications devices. In 1992 they made their first mobile phone and decided to focus exclusively on mobile devices, selling off all other divisions. Catalyst: Projected market growth.
  11. 11. The online role-playing game “Game Neverending” had a photo- sharing tool which turned out to be the most popular aspect of the game. The company decided to leverage this photo popularity and pivot to Flickr. Catalyst: User feedback.
  12. 12. HP made electrical testing products, but in 1968 introduced the first large-scale PC. When the PC market caught fire in the 1990’s , HP separated the testing equipment into a new company to solely focus on PC’s. Catalyst: Pace of change.
  13. 13. Nintendo produced playing cards, vacuum cleaners, instant rice, a taxi company and a short-stay hotel chain. In 1966 it started producing electronic games and consoles and shortly after decided to focus solely on that. Catalyst: Need for revenue growth.
  14. 14. Burbn, a check-in app that included gaming elements and a photo element was rebuilt as a version of the app that focused solely on photography called Instagram. Catalyst: Burbn wasn’t getting traction.
  15. 15. Fabulis was a social network site targeted towards gay men. The most popular part of the site was the highlighting of products, so they decided to take a totally new direction start selling those items on Fab.com. Catalyst: Need for revenue.
  16. 16. Pinterest was born from the Tote application that allowed people to browse and shop their favorite retailers. Users were mostly interested in building and sharing “collections” of their favorite items. Catalyst: Need for growth; user feedback
  17. 17. Suzuki was best knownas theinventor and purveyorofweaving loom machinesthat powered Japan’s silk industry.In the interest ofdiversification Suzuki prototyped a compact car, leading them tofocus onthe automotive industry. Catalyst: Consumerdemand.
  18. 18. Starbucks began in 1971 selling espresso makers and coffee beans. Later Howard Schultz decided to pivot the business to resemble European-style coffeehouses. Catalyst: New vision.
  19. 19. BusinessPlanTemplate.com helps entrepreneurs, business owners and executives to create plans to grow their organizations. Learn more about at http://www.businessplantemplate.com/