“Do one thing well” – Chinese Proverb

“We have a platform technology” was the way the entrepreneur described her company idea.  Investors love to hear that your idea could benefit more than one market but it comes with a curse.  It tends to make the entrepreneur opportunistic.  Opportunism is the enemy of focus.

If, during your customer discovery process, you come across a new market that is very attractive, you might choose to pivot.  But understand this; a pivot is a move in a different direction which means you stop going down the path you did before.

You will spend 60 – 100% of the time and effort to develop your market and business model as you did developing the product itself.  As a startup, it’s really hard to do more than one.

Pivot means CHANGE DIRECTION, not stay the course plus add one.

 

Blogging Gazelle is published daily by Shawn Caroson

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