There are other examples in this thread. A pivot is exactly that, something you need to re-engineer or change the market on to make viable.
Reddit is a good example. Burbn/Instagram another. Flikr even better.
If your whole business plan is "raise cash and hope we pivot to a good idea", is that really a solid plan?
As with most things, the answer is "It depends." Taking money can be a forcing function on a pivot. If you have a solid team and know that there is a market, then you seek hard for a solution - if there is no solution in the market then you take the company in a different direction. That's why team is so important - ideas fail.
There are other examples in this thread. A pivot is exactly that, something you need to re-engineer or change the market on to make viable.
Reddit is a good example. Burbn/Instagram another. Flikr even better.
If your whole business plan is "raise cash and hope we pivot to a good idea", is that really a solid plan?
As with most things, the answer is "It depends." Taking money can be a forcing function on a pivot. If you have a solid team and know that there is a market, then you seek hard for a solution - if there is no solution in the market then you take the company in a different direction. That's why team is so important - ideas fail.