Change is the only constant thing in life, and in the business world, being willing to pivot can make all the difference between success and struggle. Companies that have been able to adapt and make the necessary changes to their business model have been able to achieve great success. The likes of Twitter, Slack, and Instagram have all gone through successful pivoting. Let’s explore those examples and discover how your business can thrive on change too.
1. Twitter: Twitter started as a podcasting platform called Odeo. When Apple announced the creation of iTunes, Odeo saw the writing on the wall and was forced to pivot quickly. So, the company decided to focus on building a social media platform. Today, Twitter has millions of active users, and it has become a powerful tool for businesses to reach their target markets. The key takeaway from Twitter’s pivot is to always stay open to new opportunities and never be too stubborn to make changes when necessary.
2. Slack: Slack started as a game called Glitch. The game was not successful, and the company was forced to shut it down. However, the team noticed that the internal communication tool they created for the game was getting a lot of positive feedback. They decided to pivot and turn it into a team communication tool, and today, Slack is one of the most popular business communication tools in the world. Slack’s pivot teaches us that we should always pay attention to what our customers are saying and be open to making changes based on their feedback.
3. Instagram: Instagram started as a location-based check-in app called Burbn. The app was not successful, and the team was struggling to get users to engage with it. The team decided to pivot and focus on what users really liked, which was posting pictures and sharing them with friends. Thus, Burbn became Instagram, and within a year, it had over a million users. Instagram’s pivot is a reminder that we should always be willing to experiment and take risks in order to discover what our customers really want.
4. Netflix: Netflix started as a DVD rental-by-mail service. However, with the advent of streaming services, the company had to pivot quickly. It started producing original content, such as “House of Cards” and “Orange Is the New Black,” to differentiate itself from competitors. Today, Netflix has over 200 million subscribers worldwide. The lesson we learn from Netflix is the importance of embracing innovation and being willing to take risks, even if it means disrupting the status quo.
5. Microsoft: Microsoft started its journey in the tech world by selling BASIC interpreters for the Altair 8800. However, it had to pivot quickly when personal computers became a thing. It started building software for the PC, and today, Microsoft is one of the biggest companies in the world, offering a variety of products and services. Microsoft’s pivot teaches us that we need to be able to anticipate and respond to changes in technology and our industry.
Business is not static, and the world is constantly changing. It’s important for businesses to be agile and willing to pivot when necessary. Twitter, Slack, Instagram, Netflix, and Microsoft teach us valuable lessons on how to pivot successfully. Whether it’s staying open to new opportunities, paying attention to customer feedback, being willing to experiment and take risks, or embracing innovation, adaptability is key. Remember, successful pivoting can make all the difference between success and struggle. So, stay flexible, stay mindful, and stay focused on your goals.
If you want to learn more about what we do, visit theblacksmith.com, let’s connect!