Right on Pivot, 2021
2 out of 5 unicorns today pivoted at least once in their journey. This document digs deeper to understand the art and science of successful pivots.
Here is what's inside:
What is a pivot? Is it only for startups? Is it only for tech?
Is a pivot something I need to consider for my organization?
Who pivoted and how?
How do I do a pivot the right way?
It contains showcases & deep-dives of some of the best known brands like Dropbox, Flickr, Instagram, Microsoft, Netflix, Practo, Shopify, Udaan, YouTube, Zetwerk.
This deck was prepared for Daniel School of Business at DU for their Executive MBA program. It includes a definition on CX and UX, then the digital devices that transpired 2008-2018.
Discusses how to leverage the Twitter ecosystem that is already generating revenue by monetizing the Twitter API through a premium Twitter Developer Program. Submission to the Silicon Alley Insider Create Twitter's Revenue Model Contest.
Product managers drive the vision, strategy, design, and execution of their product. In this presentation I share my lessons learned on the art behind each of these four dimensions of product management.
Enjoyed this presentation? Subscribe to my weekly essays at sachinrekhi.com
This presentation goes through the past decade, 2008-2018, of how UX as a profession grew in the marketplace and pivotal digital shifts in the market. This was part of the Big Design 2018 conference in Dallas, Texas. Michael Vaughn is the author of this talk and presented it at the conference.
Consumer Experience [CX] Evolution - Full Report - LatitudeLatitude
Innovation signifies an object or idea that enhances life instead of flooding it with headaches, distraction, confusion. And yet, all too often, that’s exactly what happens when marketers and companies throw tech at the consumer in the name of innovation.
Innovation done for the sake of innovation means little unless guided by the realization that true innovation simplifies life and allows humans to be, well, more human.
If companies, whether brick-and-mortar retailers or digitally-native startups, want to remain relevant to the consumer in the digital age, they need to realize that innovation means simplification. They also need to keep in mind that today’s consumer is highly connected and different from consumers of the past in how they shop and in what they expect from their shopping experience.
Even with the rise of ecommerce, brands must recognize that physical retail still has a place. Unless customers change their desire to physically interact with products as part of a memorable experience (unlikely), the physical component will always find a place in retail.
If willingness leads a company to innovate by blending physical and digital to elevate user experience and meet expectations, the company will find success. If not, they’ll join the rest of the companies in the dust that either ignored or misunderstood the true meaning of, “innovation.”
I this report, we uncover the insights driving this change and focus on the top brands leading the way.
----
At Latitude, we look to track and understand the emerging intersection of brands and experiences. Beyond brick and mortar, we focus on the holistic consumer experience [CX] as this is what truly dictates success and breakthrough in the rapidly changing world of today.
We would love to work with your team to see how we may be able to provide value. Learn more at Lat.co
Brian Donohue - Why Product Managers Should Own a Job, Not a Set of Features ...Productized
The document discusses how product managers should focus on understanding the "jobs to be done" (JTBD) by customers rather than individual features. It emphasizes that products naturally tend towards disorder and mediocrity over time, so product teams must fight entropy by using JTBD to maintain clarity on customer needs and prevent feature creep. JTBD provides a framework to understand user problems independently of technological solutions and helps prioritize the smallest improvements that provide the most value. The document advocates using JTBD to guide product strategy and development instead of focusing on a feature roadmap.
This document discusses how lean startup and agile principles can be combined for effective product development. It advocates for continuous customer interaction and iteration based on learning from customers rather than big design upfront. Pivoting is discussed as an important part of the process to change based on what is learned. An example is given of how Native Instinct worked with Pure Digital to iteratively develop the Flip camera based on customer feedback and market changes.
Proto I: the 27 participating startups Amit Ranjan
This slide deck has a list of all the startups that demoed their respective products at Proto.in., which took place in Chennai, India on 20-21st Jan, 2007
This deck was prepared for Daniel School of Business at DU for their Executive MBA program. It includes a definition on CX and UX, then the digital devices that transpired 2008-2018.
Discusses how to leverage the Twitter ecosystem that is already generating revenue by monetizing the Twitter API through a premium Twitter Developer Program. Submission to the Silicon Alley Insider Create Twitter's Revenue Model Contest.
Product managers drive the vision, strategy, design, and execution of their product. In this presentation I share my lessons learned on the art behind each of these four dimensions of product management.
Enjoyed this presentation? Subscribe to my weekly essays at sachinrekhi.com
This presentation goes through the past decade, 2008-2018, of how UX as a profession grew in the marketplace and pivotal digital shifts in the market. This was part of the Big Design 2018 conference in Dallas, Texas. Michael Vaughn is the author of this talk and presented it at the conference.
Consumer Experience [CX] Evolution - Full Report - LatitudeLatitude
Innovation signifies an object or idea that enhances life instead of flooding it with headaches, distraction, confusion. And yet, all too often, that’s exactly what happens when marketers and companies throw tech at the consumer in the name of innovation.
Innovation done for the sake of innovation means little unless guided by the realization that true innovation simplifies life and allows humans to be, well, more human.
If companies, whether brick-and-mortar retailers or digitally-native startups, want to remain relevant to the consumer in the digital age, they need to realize that innovation means simplification. They also need to keep in mind that today’s consumer is highly connected and different from consumers of the past in how they shop and in what they expect from their shopping experience.
Even with the rise of ecommerce, brands must recognize that physical retail still has a place. Unless customers change their desire to physically interact with products as part of a memorable experience (unlikely), the physical component will always find a place in retail.
If willingness leads a company to innovate by blending physical and digital to elevate user experience and meet expectations, the company will find success. If not, they’ll join the rest of the companies in the dust that either ignored or misunderstood the true meaning of, “innovation.”
I this report, we uncover the insights driving this change and focus on the top brands leading the way.
----
At Latitude, we look to track and understand the emerging intersection of brands and experiences. Beyond brick and mortar, we focus on the holistic consumer experience [CX] as this is what truly dictates success and breakthrough in the rapidly changing world of today.
We would love to work with your team to see how we may be able to provide value. Learn more at Lat.co
Brian Donohue - Why Product Managers Should Own a Job, Not a Set of Features ...Productized
The document discusses how product managers should focus on understanding the "jobs to be done" (JTBD) by customers rather than individual features. It emphasizes that products naturally tend towards disorder and mediocrity over time, so product teams must fight entropy by using JTBD to maintain clarity on customer needs and prevent feature creep. JTBD provides a framework to understand user problems independently of technological solutions and helps prioritize the smallest improvements that provide the most value. The document advocates using JTBD to guide product strategy and development instead of focusing on a feature roadmap.
This document discusses how lean startup and agile principles can be combined for effective product development. It advocates for continuous customer interaction and iteration based on learning from customers rather than big design upfront. Pivoting is discussed as an important part of the process to change based on what is learned. An example is given of how Native Instinct worked with Pure Digital to iteratively develop the Flip camera based on customer feedback and market changes.
Proto I: the 27 participating startups Amit Ranjan
This slide deck has a list of all the startups that demoed their respective products at Proto.in., which took place in Chennai, India on 20-21st Jan, 2007
This document summarizes a presentation on product management. It discusses how to define a product roadmap and minimum viable product, when to say no to new features, how to win back churned users, and how to be an effective product manager. It provides examples from companies like Amazon, Apple, Facebook, and Box. It also presents a case study on designing a mentor app and discusses prototyping tools, getting inspiration from other products, and ways to reconnect with inactive users through email, paid ads, and push notifications.
The document provides examples of marketing campaigns and creative solutions developed by the author for various clients. It describes developing a "Break Free" platform for Samsung notebooks promoting mobility and flexibility. It also details campaigns for DishTV promoting their mobile app, creating engagement for the Delhi Daredevils cricket team, and developing political advertising banners for the BJP party in Delhi. The campaigns utilized various digital channels and customized creative assets to effectively promote the clients' brands and products.
What are the big trends in mobility that will impact you and your business in 2017? What are the things you need to know and the actions you need to take to be successful?
The 2017 mobility trends report by DMI provides insights, research and recommendations on the trends that will impact consumers and organizations and reinvent business. Each trend includes real-life examples.
The presentation this year covers the following areas:
* Customer Experience including innovation, methodologies, multi-channel and IoT
* Big and small data including solving real problems and faster analytics
* Devices including the latest on smartphones, AR/VR and wearables
* Other technologies including winners in the cloud, native-hybrid and progressive web apps and DevOps
* The next big things…
App Value 101: How I Learned to Avoid Bombarding Users with Disruptive Messag...Localytics
Are users being disrupted by your messages? Are you driving users to your app, or driving them away? In this presentation we take a look at some mobile app marketing best practices while examining good and not-so-good examples of app messaging.
Learn how to make your messages move your users!
This document discusses lean UX design principles for product management. It emphasizes testing assumptions and hypotheses with users early through prototypes and minimum viable products. Metrics for measuring success should focus on impacting users' lives positively rather than just activity levels. Success is defined by each startup based on their vision, values, and goals rather than default industry metrics like clicks or time spent. The overall message is to design products that are helpful to users rather than distracting or addictive by prioritizing time well spent.
The document discusses the rise of user experience (UX) design and how it is becoming a key differentiator for companies. UX design shifts the focus from products to the interactions between users and products. It is increasingly important as companies compete to create intuitive experiences for customers. The document also discusses how UX design will continue to evolve from designing individual experiences to designing entire customer journeys through the approach of service design.
The document discusses a "Light Footprint" approach to management in a VUCA (volatile, uncertain, complex, ambiguous) world. It notes that traditional management methods are no longer effective given increased difficulties and widespread criticism companies now face. The Light Footprint approach is inspired by military strategy, which serves as a leading indicator of how competition will evolve. It focuses on winning with limited resources and no margin for error. The approach aims to help companies adapt to constant changes and disruptions in today's digital world.
This document provides guidance on establishing and managing a social media presence. It discusses establishing a "social media stage" to filter ideas through criteria to ensure success, brand alignment, and scalability. It also provides protocols and best practices for influencer engagement, responding to advocates/detractors, posting content, and community management. The overall message is that a well-planned governance structure is needed to effectively use social media and protect the brand.
DAN Brand Accelerator: Client Pitch KeynoteJason Newport
Here is the Brand Accelerator pitch deck I began using to pitch current clients more than two years ago. I refined as we advanced through each phase once clients had signed on and we adjusted as necessary. I pitched this to more than twenty clients, all household brand names -- an converted each of them. Not a single brand declined to move forward.
The document discusses various trends in UX and web design for 2018, splitting them into three pillars: Aesthetic, Interaction, and Architecture. Under Aesthetic trends, it discusses cinemagraphs, colorful gradients, Masta fonts, and serif fonts. Key interaction trends discussed include full screen search, natural language forms, micro interactions, and scalable vector graphics (SVG). The trends are analyzed from user experience, creative, and SEO perspectives, with considerations for proper implementation.
The document discusses strategies for marketing mobile apps, including:
1) Conducting market research, usability testing, and conversational analysis to inform the development of a mobile app and content strategy.
2) Developing a pre-launch media strategy that focuses on owned, earned, and bought channels to generate awareness and downloads.
3) Executing a post-launch strategy that balances paid, earned, and owned media to promote the app, introduce it to new users, and encourage repeat engagement.
This document discusses how brands can build their presence using Google's digital tools and platforms. It outlines Google's "4 I's" approach of gaining insight, developing ideas, implementing plans, and measuring impact. It provides examples of using search trends, digital media, and mobile targeting to understand consumers. Google's media platforms like Display Network and YouTube are highlighted as ways to reach relevant audiences. Tracking tools are also discussed to analyze marketing effectiveness and optimize campaigns. The overall message is that a digital-first approach allows for transparent, accountable and measurable brand building.
By all metrics, worldwide mobile usage eclipsed desktop in 2015. So why are you still designing your ecommerce site for desktop? In this essential workshop, we’ll explore how to create an intuitive, effective, responsive mobile experience for your customers. Learn how to optimize for different devices and operating systems, create concise navigation, make strong use of images, forms, and buttons, and employ powerful design cues to lead your customers from homepage to checkout.
MivaCon 2016, Thursday session 3.
GUIDE: Building Better Social Media CampaignsMohamed Mahdy
This document provides an overview of planning microcontent efforts. It recommends beginning by analyzing competitors' microcontent campaigns to understand what works. It also suggests brainstorming ongoing microcontent for conversations as well as campaigns with specific goals and timeframes. The document advises focusing microcontent efforts on daily conversations rather than just major events, as it is easier to stand out against fewer competitors on a regular day. Overall microcontent should be planned to engage audiences and position the brand.
The document summarizes a two-day seminar on mobile business-to-business (B2B) applications (apps). Day one covered statistics on mobile device usage, the benefits of B2B apps for businesses, examples of apps commonly used in professional contexts, categories of B2B apps, and demonstrations of sample apps. Day two began with a recap and discussion of insights from day one. It then covered the process of developing a B2B app from concept to design to implementation and discussed next steps for collaboration. The goal of the seminar was to help attendees better understand the potential for B2B apps and learn how to create apps that add value for business clients.
Th eart of product management... What do product managers do? This content explain the vision, design, strategy and execution time. Material by Sachin Rekhi. I wanted to share some of the best practices I learned along the way making my own transition from a product manager to a product leader.
The Next Generation Content Is The ProductHelge Tennø
Customers are demanding more from their products and servces. Corporations need to fill the gap between the product and the customer with more value and service.
This document summarizes a presentation on product management. It discusses how to define a product roadmap and minimum viable product, when to say no to new features, how to win back churned users, and how to be an effective product manager. It provides examples from companies like Amazon, Apple, Facebook, and Box. It also presents a case study on designing a mentor app and discusses prototyping tools, getting inspiration from other products, and ways to reconnect with inactive users through email, paid ads, and push notifications.
The document provides examples of marketing campaigns and creative solutions developed by the author for various clients. It describes developing a "Break Free" platform for Samsung notebooks promoting mobility and flexibility. It also details campaigns for DishTV promoting their mobile app, creating engagement for the Delhi Daredevils cricket team, and developing political advertising banners for the BJP party in Delhi. The campaigns utilized various digital channels and customized creative assets to effectively promote the clients' brands and products.
What are the big trends in mobility that will impact you and your business in 2017? What are the things you need to know and the actions you need to take to be successful?
The 2017 mobility trends report by DMI provides insights, research and recommendations on the trends that will impact consumers and organizations and reinvent business. Each trend includes real-life examples.
The presentation this year covers the following areas:
* Customer Experience including innovation, methodologies, multi-channel and IoT
* Big and small data including solving real problems and faster analytics
* Devices including the latest on smartphones, AR/VR and wearables
* Other technologies including winners in the cloud, native-hybrid and progressive web apps and DevOps
* The next big things…
App Value 101: How I Learned to Avoid Bombarding Users with Disruptive Messag...Localytics
Are users being disrupted by your messages? Are you driving users to your app, or driving them away? In this presentation we take a look at some mobile app marketing best practices while examining good and not-so-good examples of app messaging.
Learn how to make your messages move your users!
This document discusses lean UX design principles for product management. It emphasizes testing assumptions and hypotheses with users early through prototypes and minimum viable products. Metrics for measuring success should focus on impacting users' lives positively rather than just activity levels. Success is defined by each startup based on their vision, values, and goals rather than default industry metrics like clicks or time spent. The overall message is to design products that are helpful to users rather than distracting or addictive by prioritizing time well spent.
The document discusses the rise of user experience (UX) design and how it is becoming a key differentiator for companies. UX design shifts the focus from products to the interactions between users and products. It is increasingly important as companies compete to create intuitive experiences for customers. The document also discusses how UX design will continue to evolve from designing individual experiences to designing entire customer journeys through the approach of service design.
The document discusses a "Light Footprint" approach to management in a VUCA (volatile, uncertain, complex, ambiguous) world. It notes that traditional management methods are no longer effective given increased difficulties and widespread criticism companies now face. The Light Footprint approach is inspired by military strategy, which serves as a leading indicator of how competition will evolve. It focuses on winning with limited resources and no margin for error. The approach aims to help companies adapt to constant changes and disruptions in today's digital world.
This document provides guidance on establishing and managing a social media presence. It discusses establishing a "social media stage" to filter ideas through criteria to ensure success, brand alignment, and scalability. It also provides protocols and best practices for influencer engagement, responding to advocates/detractors, posting content, and community management. The overall message is that a well-planned governance structure is needed to effectively use social media and protect the brand.
DAN Brand Accelerator: Client Pitch KeynoteJason Newport
Here is the Brand Accelerator pitch deck I began using to pitch current clients more than two years ago. I refined as we advanced through each phase once clients had signed on and we adjusted as necessary. I pitched this to more than twenty clients, all household brand names -- an converted each of them. Not a single brand declined to move forward.
The document discusses various trends in UX and web design for 2018, splitting them into three pillars: Aesthetic, Interaction, and Architecture. Under Aesthetic trends, it discusses cinemagraphs, colorful gradients, Masta fonts, and serif fonts. Key interaction trends discussed include full screen search, natural language forms, micro interactions, and scalable vector graphics (SVG). The trends are analyzed from user experience, creative, and SEO perspectives, with considerations for proper implementation.
The document discusses strategies for marketing mobile apps, including:
1) Conducting market research, usability testing, and conversational analysis to inform the development of a mobile app and content strategy.
2) Developing a pre-launch media strategy that focuses on owned, earned, and bought channels to generate awareness and downloads.
3) Executing a post-launch strategy that balances paid, earned, and owned media to promote the app, introduce it to new users, and encourage repeat engagement.
This document discusses how brands can build their presence using Google's digital tools and platforms. It outlines Google's "4 I's" approach of gaining insight, developing ideas, implementing plans, and measuring impact. It provides examples of using search trends, digital media, and mobile targeting to understand consumers. Google's media platforms like Display Network and YouTube are highlighted as ways to reach relevant audiences. Tracking tools are also discussed to analyze marketing effectiveness and optimize campaigns. The overall message is that a digital-first approach allows for transparent, accountable and measurable brand building.
By all metrics, worldwide mobile usage eclipsed desktop in 2015. So why are you still designing your ecommerce site for desktop? In this essential workshop, we’ll explore how to create an intuitive, effective, responsive mobile experience for your customers. Learn how to optimize for different devices and operating systems, create concise navigation, make strong use of images, forms, and buttons, and employ powerful design cues to lead your customers from homepage to checkout.
MivaCon 2016, Thursday session 3.
GUIDE: Building Better Social Media CampaignsMohamed Mahdy
This document provides an overview of planning microcontent efforts. It recommends beginning by analyzing competitors' microcontent campaigns to understand what works. It also suggests brainstorming ongoing microcontent for conversations as well as campaigns with specific goals and timeframes. The document advises focusing microcontent efforts on daily conversations rather than just major events, as it is easier to stand out against fewer competitors on a regular day. Overall microcontent should be planned to engage audiences and position the brand.
The document summarizes a two-day seminar on mobile business-to-business (B2B) applications (apps). Day one covered statistics on mobile device usage, the benefits of B2B apps for businesses, examples of apps commonly used in professional contexts, categories of B2B apps, and demonstrations of sample apps. Day two began with a recap and discussion of insights from day one. It then covered the process of developing a B2B app from concept to design to implementation and discussed next steps for collaboration. The goal of the seminar was to help attendees better understand the potential for B2B apps and learn how to create apps that add value for business clients.
Th eart of product management... What do product managers do? This content explain the vision, design, strategy and execution time. Material by Sachin Rekhi. I wanted to share some of the best practices I learned along the way making my own transition from a product manager to a product leader.
The Next Generation Content Is The ProductHelge Tennø
Customers are demanding more from their products and servces. Corporations need to fill the gap between the product and the customer with more value and service.
The document announces upcoming networking events for product leaders, including webinars and in-person sessions on topics like UX design, customer insights, and product management in agile environments. Details like dates, locations, and speaker bios are provided for each event. Registration information and links to past session videos are available on the listed website.
This document summarizes key digital trends for 2009, including:
- Growth of online advertising despite economic downturn
- Major players integrating across online/mobile/TV platforms
- Rise of social media, mobile applications, and open platforms
- Shift to more user-generated and social content online
- Importance of conversation and reputation management for brands
CyberAgent Ventures is a venture capital firm based in Japan that invests in internet and technology startups across Asia. It has 10 offices in 7 countries with a focus on emerging markets. The presentation provides an overview of CyberAgent as a parent company, CyberAgent Ventures' investment strategy and process, examples of portfolio companies, and services provided to portfolio firms like incubation support.
An MVP is a minimum viable product that allows teams to collect validated learning about customers with minimal effort. It focuses on building and selling a product to customers through an iterative process of testing ideas, prototypes, data collection and analysis. Successful companies like Uber, Airbnb, Facebook and Groupon launched with basic MVPs that tested their core idea with customers before developing more complex features.
This document discusses various strategies for monetizing a technology product or service. It begins by evaluating economies of scale and common pitfalls startups face. It then discusses how to guarantee customer adoption, such as Apple's strategy of making the Apple II accessible to non-hobbyists. Next, it addresses frameworks for determining appropriate product tiers and pricing, such as using a Kickstarter campaign to test pricing. Finally, it presents different options for monetization, including memberships, selling content, sponsorships, and leveraging user data. The overall document provides an overview of important considerations for startups seeking to effectively monetize their offerings.
Mojiva is an expert at providing concise rich media summaries:
(1) Mojiva provides leading brand advertising and exclusive social integration capabilities on mobile devices.
(2) The document highlights several rich media campaigns run by Mojiva including expanding banners for FedEx and Tropicana that drove clicks and engagement.
(3) Mojiva's solutions allow targeting of audiences based on location, daypart, operating system, and interests to deliver contextually relevant mobile advertising.
A presentation I gave at the 2nd UnSummit in St. Paul, Summer 2011 on Agile Marketing + Lean Planning, using our work with the Flip Camera as a case study. This includes a short workshop exercise at the end.
This document discusses agile marketing strategies and provides examples. It advocates for an iterative approach focused on customer engagement over rigid plans. Campaigns should evolve based on continuous learning and adaptation to customer behavior and feedback. The Obama 2008 campaign is cited as exemplary in remaining true to its vision while adapting to changing conditions. The document also describes how Native Instinct worked with Pure Digital to help expand the market for Flip cameras through agile development of products, marketing, and social media strategies.
Find out which tools clever marketers are using to improve their productivity and boost their marketing ROI. These 20 tools help you to organize your ideas, create content, share it and measure it.
The document discusses the growth of mobile apps and the app revolution. It notes that smartphones account for only 5% of the total mobile market but there are over 500,000 apps available today. It also discusses why apps have exploded in popularity due to their ability to provide social, local, and mobile engagement opportunities. The document then promotes TheAppBuilder as a solution that allows easy app creation and distribution without coding skills.
This document discusses trends in social media and live streaming. It notes that social selling has become important for businesses to build relationships and make sales through social media channels. Statistics show social sellers have better results than traditional sales methods. It also discusses new live streaming platforms like Facebook Live, Periscope, and Meerkat that allow real-time video sharing, as well as Blab, a platform for live video conversations. Businesses are encouraged to use live streaming to demonstrate products, answer customer questions, and provide behind-the-scenes experiences to build trust and loyalty.
Tom Walton, Gary Green and Clement Pickering of Infinity Works spoke about techniques to guide your organisation to deliver value quicker and more closely aligned to your business strategies.
In this Slideshare i had define about product and services.
difference between product and services.
types of product and services.
if you like my presentation do like and follow.
Thank you
Shopping Reinvented: Next-Generation Big Ticket Retaildavethewavesd
Thriving in today's Home FUrnishings retail market requires creativity, consistency, and most of all, customer engagement. This presentation takes a look at new ways HF retailers can leverage technology and connectivity to reach more shoppers in more compelling ways.
Consumers aren't just craving new experiences from brands, they're demanding them - with scale. Successful brands will be those that adapt and derive from customer insights, both positive and negative.
In the recently published Razorfish Outlook Report 2010, we analyzed how our clients evolved with the challenging economic environment, what media proved effective, what didn’t deliver, and how this information can be used to direct successful strategy moving forward.
This Report answers questions on the makings of a modern day Tech CFO - the career paths, their personalities and the insights they use.
CFOs are the first line of defense from potential financial adversity.
They can also be the asset that allows companies to really expand their horizons rapidly.
Today, the CFO is a connector – the bridge between business, data & goals.
Yet, so little is spoken about these enablers.
So, we decided to shift the spotlight onto them.
What this report focuses on could address questions like:
who are they?
what is their education arc?
how has their career graph been?
what insights do we have about their personality style?
what makes them tick & what ticks them off?
when faced with rapid momentum, do they fight/ take flight?
Hope you get some answers to questions you have had in a while. If you want to ask me something or explore assistance as a CFO, please feel free to hit us up at connect@prequate.in.
State of Enterprises 2019, an annual study capturing insights of entrepreneurs who have built successful businesses, their challenges & how they dealt with them, insights on what to do & what to look out for while building your own business.
Release date: June 6, 2019
Equity/ Stock-based compensation is a method by which corporations use options to buy stock at subsidized/ no cost usually at a future date to incentivize, retain and reward their employees/ advisors.
SaaS (Software as a Service) has singlehandedly emerged as the single largest disruption in business model in the last decade. SaaS companies suddenly made available enterprise quality technology to people (and businesses) across the world. SaaS public companies made ~$70Bn (at a ~70% gross profit) while adding ~$700Bn in MCap on the Nasdaq.
But there is one thing that sets SaaS apart. A 70% gross profit means that the every $1 of revenue can add $0.70 to your profits & $9.5 to your enterprise value. Which makes for – Pricing, the single largest needle spinner (after the product and service, of course) in a SaaS companies life. Looking for that one small thing that makes a big change? Start here.
Disclaimer: Please note that these are our views are based on our experience in being advisors and working hands-on with various organizations. They are for the limited purpose of educating the leaders of a company. The rationale and the procedure to be followed can vary significantly based on the context, stage, exact nature & size of the business.
Traditional finance is dead. Business has changed significantly over the last 2 decades. While this has opened up a new set of opportunities to reinvent the concepts of finance, a lot of businesses are being left behind as they grapple with issues that a proactive approach to finance could have easily avoided. All hail the new king of finance – Strategic Finance Thinking.
We get asked every other day by businesses we meet – So what is it that you do so differently? While this has become a part of our standard conversation, we thought of putting these thoughts together in a whitepaper that every SMB can use to define what they should be expecting from this new wave.
Disclaimer: Please note that these are our views are based on our experience in being advisors and working with various organizations. They are for the limited purpose of educating the officers of a company. How this applies to your business can vary significantly based on the context, stage, exact nature & size of the business.
About when we added 1.75% to the topline of a technology companyPrequate Advisory
How it began
Gamma Private Limited is a 13 year old company providing IT & ITES services with a top-line of over USD 10Mn based out of India and US. Prequate was brought in to help Gamma improve their reporting and help study profitability at the project level.
Gamma was in a growth stage and wanted to improve their reporting standards and be able to determine profits for each LOB. They relied on accounting outputs and basic analysis for it.
Disclaimer: Gamma started a continuous engagement model that allowed Prequate to develop the management reporting frameworks within the CFO Office offering.
About when we saved a manufacturing company ~20% on subcontracting costsPrequate Advisory
How it began
Beta Private Limited is a 15 year old well established manufacturing company with a top-line of approximately USD 3Mn based out of India. Prequate was brought in to help Beta manage further growth by analyzing and changing old systems and introducing future thinking.
Beta was in a mature stage and wanted to move to a people independent setup. They relied on experience and rule of thumb for determining the key controllable factors in their industry - pricing and costing mechanism.
Disclaimer: Beta started a continuous engagement model that allowed Prequate to develop the management reporting frameworks within the CFO Office offering.
About when we renegotiated the acquisition price for a company to <50%Prequate Advisory
How it began
Ceyes Private Limited is a 13 year old company with SaaS based application in the education space with a team of over 100 employees. Prequate was brought in by the Diez acquirers to assess Ceyes renegotiate the acquisition price.
Ceyes had a good time tested product with great scalability and client delivery spanning several years. Over the next 3 years, they were aggressively expanding their footprint across 2 new countries.
Disclaimer: Diez started a limited engagement that allowed Prequate to perform a fit assessment, a detailed due diligence of the company and assist in negotiations of the asking price of Ceyes for a take over of the company.
How it began
Alpha Limited is a 5 year old company providing IT & ITes enabled services with a top-line of over USD 6Mn based out of India. Prequate was brought in to help Alpha manage growth during the period of rapid scaling.
Alpha was in a spurt stage with idea of expanding its service visibility overseas. They relied on a set of marketing consultants for their on-ground presence in the overseas locations.
Disclaimer: Alpha started a continuous engagement model that allowed Prequate to develop the management reporting frameworks within the CFO Office offering.
Leveraging the power of collaboration for a technology companyPrequate Advisory
From the year 2000, a massive shift occurred quietly to most, but daringly to a few. A few large organizations saw the change that was occurring. In 2007, when I was consulting with a large $Bn technology bellwether from my alma mater, I remember how this disruption, so new and so unique, was being viewed as the single largest transformation in the industry way before most of the world heard of this disruption. This arrived with the perfect storm co-created by cloud system deployment capabilities and the penetration of high speed internet. With these forces aligned, it created the SaaS disruption. It took 10 years though for its proliferation to be the product of choice for all industries. It uniquely positioned itself to productise systems and frameworks and create workflow environments which were hitherto accessible only toby the big companies at a fraction of the expense. It did something else which was more succinct though. Now companies were suddenly getting familiar with having open systems and integrations and allowing outsiders in – a fundamental shift in thinking which has changed everything.
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1. An exploration into pivots
to decode the science in it
all and the art of doing it
the right way.
Pivot
R I G H T
2. why & what
the big
In times like these, when the playing fields have
levelled, businesses are becoming more and more
focused on ‘value’ than ‘being first.’
1
VUCA times call for a rethinking of status quo - a
redefinition of who they are and how they can bullet-
proof themselves.
2
Some of the most valuable startups have one thing in
common – an origin story set in times of uncertainty (Uber,
YouTube, Yahoo, Slack, Dropbox).
Ever, wondered why? We did.
A playbook on the art of the pivot – Right on Pivot, 2021.
3. An organization's ability to learn,
and translate that learning into
action rapidly, is the ultimate
competitive advantage.
- Jack Welch
CEO, General Electric
6. A business pivot is an adaptation or
improvement 1 of adjusting or modifying
(a product, service, or even strategy) 2.
They are the result of today’s
organizations embracing agility 3 as a
core part of their DNA. They occur
irrespective of the stage 4 of a company
in its lifecycle.
2
Pivots can span
from just a small
tweak to a
complete redo of
the organization’s
strategy.
1
Pivots at times
seem like big
changes, their
core foundation
elements remain
the same.
3
All organizations
are considering
pivots as a part
of Org strategy
rather than in
troubled times.
4
Pivots occur in
Orgs of all stages
– Startup, Growth
or Maturity or all
sizes, be it small
or enterprise.
7. Who is a pivot for?
There are a lot of misconceptions about Pivots – mostly because it seems to be grabbing
eye-balls in relation to the tech industry. But there is half truth to that. Here are some
pivot-al myths busted.
I’m not in tech. Is this
playbook relevant for
me?
I’m an enterprise today.
Isn’t this something that
startups do?
MYTH
#1
MYTH
#2
Doesn’t pivoting mean
doing something new
entirely?
MYTH
#3
Of course.
Pivots are not specific to an
industry – though tech businesses
tend to be more nimble and
hence can pivot faster, but the
most successful pivots in the
world aren’t only tech.
Western Union
from telecommunication to payments
Not at all.
Pivots can be made irrespective of
the stage that the business is in.
The challenges can differ in
achieving success or the time to
materialize, but all sizes are
welcome.
Sony
from cassette to digital only
Thankfully not.
Pivots are a way to accelerate
growth and profitability while
leveraging on the strengths that
the organization possesses. It
does involve new thinking but
need not mean starting afresh.
Groupon
from campaign mgmt. to deal aggregation
8. What kinds of pivot are possible?
As business get more dynamic and macro-economic circumstances get more uncertain,
there are endless new pivots that can come up. Here are the buckets that they most likely
fall under:
ZOOM IN
PIVOT
CUSTOMER NEED
PIVOT
VALUE DRIVER
PIVOT
USER SEGMENT
PIVOT
ZOOM OUT
PIVOT
CHANNEL
PIVOT
PLATFORM
PIVOT
GROWTH ENGINE
PIVOT
ARCHITECTURE
PIVOT
9. What do they mean, really?
As business get more dynamic and macro-economic circumstances get more uncertain,
there are endless new pivots that can come up. Here are the buckets that they most likely
fall under:
ZOOM IN
PIVOT
CUSTOMER NEED
PIVOT
VALUE DRIVER
PIVOT
USER SEGMENT
PIVOT
ZOOM OUT
PIVOT
CHANNEL
PIVOT
PLATFORM
PIVOT
GROWTH ENGINE
PIVOT
ARCHITECTURE
PIVOT
when a product/ service
feature ends up becoming
your whole product
when the feature that is
growing is different from the
first intended one
when a particular aspect can
be segregated and a value
chain is built on it
when the product is capable of
actually solving a different
persons problem
when the product ends up
becoming a single feature in a
bigger product
when you pivot to deliver your
product/ service through a
different channel
when you move from
application to a platform
allowing others to build
when a new strategy is
deployed to dramatically
increase growth
when you change strategy by
trading off between volume &
margin
10. What do they mean, really?
Following the thread for each kind of pivot, here is a deep-dive into some of the the most
successful pivots of our time from across the world:
ZOOM IN
PIVOT
CUSTOMER NEED
PIVOT
VALUE DRIVER
PIVOT
USER SEGMENT
PIVOT
ZOOM OUT
PIVOT
CHANNEL
PIVOT
PLATFORM
PIVOT
GROWTH ENGINE
PIVOT
ARCHITECTURE
PIVOT
11. ZOOM IN PIVOT
when a product/ service feature ends up becoming your whole product
Started in 2010 as Burbn, a
check-in app like Foursquare
but with images due to shared
personal interest.
Noticed that users were using
Burbn as a photo log as they
really loved the photography
features.
Pivoted the app development
to focus on the photography
elements and be great at that
one thing.
Concentrated on building it as
an inclusive social network by
marrying photo filters,
tagging & check-ins.
Raised $0.5M @
~$2-4M valuation
Raised $7M @
$25M valuation
Mar 2012, Users hit 27M.
Sold to Facebook @
$1B valuation
Instagram’s Zoom-In Pivot
12. In-depth User Behaviour &
Usage Analysis leading to
realizations
Strategy shift to focus on
building products that are
great at one thing
Embracing openness and
interoperability with other
platforms
ZOOM IN PIVOT
when a product/ service feature ends up becoming your whole product
Raised $0.5M @
~$2-4M valuation
Raised $7M @
$25M valuation
Mar 2012, Users hit 27M.
Sold to Facebook @
$1B valuation
Instagram’s Zoom-In Pivot
13. ZOOM IN PIVOT
when a product/ service feature ends up becoming your whole product
Burbn
Check in at locations,
make plans with friends,
earn points for hanging
out with friends, and post
pictures of the meet-ups.
Instagram’s Zoom-In Pivot
Instagram
Fast, beautiful photo sharing for
your Phone
Meet Instagram.
It’s a fast, beautiful and fun way to
share your life with friends
through a series of pictures.
Snap a photo with your Phone,
choose a filter to transform the
look and feel, send to Facebook,
Twitter or Flickr – it’s all as easy as
pie. It’s photo sharing, reinvented.
Oh yeah, did we mention it’s free?
product
promise
changed
product
functionality
unchanged
flexibility &
openness
changed
target user
demographic
unchanged
product
positioning
changed
technology
infrastructure
unchanged
14. CUSTOMER NEED PIVOT
when the feature that is growing is different from the first intended one Flickr’s Customer Need Pivot
Flickr grew out of Ludicorp’s
Game Neverending- a MMOG
that focused on social interaction
and object manipulation.
Realized that photo dropping
feature as users extensively to share
photos that often had nothing to
do with the game.
The development of the game
was later shut down in 2004
and the tools built for it later
evolved into Flickr.
Flickr focused on providing
cutting-edge real-time photo
sharing with photo commenting
and advanced privacy options.
Mar 2005, sold to
Yahoo for ~$25M
15. CUSTOMER NEED PIVOT
when the feature that is growing is different from the first intended one
Game Neverending
A massively multiplayer
online game
focus was social
interaction & object
manipulation
Flickr
An image hosting & video
hosting service, as well as an
online community
the home for all your photos.
upload, access, organize, edit, and
share your photos from any
device, from anywhere in the
world
revenue earned from premium
subscriptions
product
promise
changed
product
functionality
changed
flexibility &
openness
changed
target user
demographic
changed
product
positioning
changed
technology
infrastructure
changed
Flickr’s Customer Need Pivot
16. Started in 2016, as a B2B
Digitization solution for SMBs to
allow them to transact online with
logistics support
Transformed into a B2B buying
platform that supplies directly from
manufacturers and other SMBs
with credit support
Switched over to a full-stack listing
platform to enable sellers to create
listings and buyers to discover new
suppliers by product category
Moved to a marketplace model
that can connect SMBs directly and
facilitate buying and selling with
payments and logistics
VALUE DRIVER PIVOT
when a particular aspect can be segregated and a value chain is built on it
Raised $10M @
$40M valuation
Udaan’s Value Driver Pivot
Raised $585M @
$2.7B valuation
Raised $225M @
$1B valuation
17. “Making online trading simple, safe
and convenient."
“B2B Buying for Retailers"
"India's B2B Commerce Network of
Retailers, Manufacturers, Traders,
Wholesalers"
"India's B2B Marketplace of
Retailers, Manufacturers, Traders,
Wholesalers"
VALUE DRIVER PIVOT
when a particular aspect can be segregated and a value chain is built on it
Raised $10M @
$40M valuation
Udaan’s Value Driver Pivot
Raised $585M @
$2.7B valuation
Raised $225M @
$1B valuation
18. VALUE DRIVER PIVOT
when a particular aspect can be segregated and a value chain is built on it
Udaan
Network centric B2B
Trade Platform
Providing SMBs with
digitalization tools to
allow for transacting
online with logistics
support
Revenue earned from
logistics and commissions
on purchases
Udaan
India's largest B2B Buying
Platform for SMBs
Established its own distribution,
logistics and credit network to
complement the listing platform
and become the primary supplier
based on predictability and buyer
behaviour
Revenue from gross margins on
buying, delivery charges &
interest on credit provided
product
promise
changed
product
functionality
changed
flexibility &
openness
changed
target user
demographic
unchanged
product
positioning
unchanged
technology
infrastructure
changed
Udaan’s Value Driver Pivot
19. USER SEGMENT PIVOT
when the product is capable of actually solving a different person’s problem Practo’s Customer Need Pivot
Started in 2009 as a web-
based clinic & document
management software for
doctors & hospitals.
Realized that the real
problem in healthcare was
experienced by patients and
their tech could solve that.
Opened up the earlier
closed off user end to solve
the patients needs for ease
of booking & confirmation.
Started the pivot to make
Practo a healthcare
discovery platform
focused on the patient.
Raised $4M @
$12-15M valuation
Used by 180M+
in 21 countries
Raised $90M @
$500M valuation
Transitioned to a full-
service patient
companion app for
end-to-end health.
20. USER SEGMENT PIVOT
when the product is capable of actually solving a different person’s problem
“Practo is an online practice management software
which helps you serve your patient better and
makes managing your practice simpler.”
“Find Doctors in […….]. Book
confirmed doctor appointments
online for FREE.”
“Find & book
appointments with
doctors, diagnostic labs”
Practo’s Customer Need Pivot
“Say Hello to India’s top doctors via
video consultation, get digital
prescriptions, order medicines, book
doctor appointments & lab tests”
21. ZOOM OUT PIVOT
when the product ends up becoming a single feature in a bigger product
Started in 2005 as a dating
website where users could
upload video profiles as an
alternative to other platforms.
Realized that (1) users were
uploading a lot more videos
than their profiles & (2) new
users weren’t posting videos.
Changed the architecture to
allow users to post videos
about anything they liked
and share them.
Focused on providing
users with infrastructure
to host all video content
and allowed plug-ins.
Raised $3.5M @
$15M valuation
Nov 2006, sold
to Google @
$1.7B valuation
YouTube’s Zoom-Out Pivot
Raised $8M @
$35M valuation
Focused on providing
users with
infrastructure to host
all video content.
22. ZOOM OUT PIVOT
when the product ends up becoming a single feature in a bigger product
Users’ Usage Analysis
leading to realizations
of product capability
“Your Digital Video
Repository”
“Share your videos with
friends and family”
Raised $3.5M @
$15M valuation
Nov 2006, sold
to Google @
$1.7B valuation
YouTube’s Zoom-Out Pivot
Raised $8M @
$35M valuation
“Broadcast
yourself”
23. ZOOM OUT PIVOT
when the product ends up becoming a single feature in a bigger product YouTube’s Zoom-Out Pivot
YouTube
as a video profile and
discovery website for
dating
focus is to drive user
acquisition and thereby
receive trickle down
subscriptions from total
users over time
revenue earned from
subscriptions, uploads
YouTube
as a tool for all creators to upload
video content irrespective of the
use-case
focus is to drive adoption to all
users to create more content and
make it available to more users
like a broadcast channel – purely
online only
revenue earned from sponsored
content, premium content,
advertising
product
promise
changed
product
functionality
unchanged
flexibility &
openness
changed
target user
demographic
changed
product
positioning
changed
technology
infrastructure
unchanged
24. ARCHITECTURE PIVOT
when you change strategy by trading off between volume & margin Office’s Architecture Pivot
Initially operated on a Licensing model,
later realising that SaaS had a greater
potential when compared to licencing
their product on a perpetual model.
Introduced Microsoft 365- developed
to give businesses & individuals
access to all the Microsoft tools on a
subscription basis.
2020 Revenue: $46B
2015 Revenue: $25B
Expanding accessibility by
building it as a cloud-first
application, thereby allowing
users to collaborate online.
The new subscription model would
make it accessible for the users who
earlier found it unaffordable especially
for small business needs & home use.
2010 Revenue: $17B
25. ARCHITECTURE PIVOT
when you change strategy by trading off between volume & margin Office’s Architecture Pivot
“Try or buy Office 2010, view product
information, get help and training,
explore templates, images, and
downloads.”
“As part of Microsoft 365, Office will
continue to provide the best
productivity experience.”
2020 Revenue: $46B
2015 Revenue: $25B
“Collaborate for free with online
versions of [……….]. Share them
with others and work together at
the same time.”
“Try or buy Office 365 for Home or
Business, view product information, get
help and training, explore templates,
images, and apps for Office.”
2010 Revenue: $17B
26. GROWTH ENGINE PIVOT
when a new strategy is deployed to dramatically increase growth Dropbox’s Growth Engine Pivot
Started in 2007, Dropbox started
as a cloud storage offering to allow
for anywhere & anytime access to
personal users.
A userbase of 100K in 2008 with
growing CAC (of $233+) from
traditional channels meant 2+
years for CAC recovery.
Raised $6M @
$25M valuation
Raised $250M @
$4B valuation
Dropbox has since then
built a user base of 600M+
with over 15M+ paid users
generating $1.9B a year.
Raised $1M @
$5M valuation
To induce virality, Dropbox began a
referral program offering free
space when you invited new ones.
Users went up 40x in 15 months.
27. PLATFORM PIVOT
when you move from application to a platform allowing others to build Shopify’s Platform Pivot
Launched in 2006, as an e-
commerce platform helping
aspiring merchants set up an
online store hassle free.
Expanded beyond its primary
offering to Merchant Solutions-
that housed multiple offerings
like Shopify Payments, Shopify
Shipping, Shopify Capital, etc.
2010 Valuation:
$25M
2020 Valuation:
$139B
2013 Valuation:
$900M
Emerged as an ERP software that
simplified managing the day-to-
day business activities and
offering more plug-ins than the
customers thought they needed.
Evolved into a linked ecosystem of
services - Shopify Expert Marketplace,
which embraced open-system
architecture by focusing on the
developer ecosystem.
2015 Valuation:
$1.3B
28. PLATFORM PIVOT
when you move from application to a platform allowing others to build Shopify’s Platform Pivot
“Hosted e-commerce with
Shopify, the easy way to start
your own online store.”
“Everything you need to sell. Build
your online store with Shopify's
ecommerce software and easily sell.”
2010 Valuation:
$25M
2020 Valuation:
$139B
2013 Valuation:
$900M
“Get more than ecommerce
software with tools to
manage every part of your
business.”
“Shopify is a powerful ecommerce
solution that includes everything you
need to run an online store.”
2015 Valuation:
$1.3B
29. CHANNEL PIVOT
when you pivot to deliver your product/ service through a different channel Netflix’s Channel Pivot
Started in 1997 purely as a ‘movie
rental service’ providing door-to-
door delivery of DVDs ordered by
users through the website.
2020 MCap:
$238.9B
2010 MCap:
$9.3B
In 2018, emerged as a content
creation powerhouse and
became the largest digital
content player in the world.
In 2007, started offering an
online streaming option as
broadband availability and
internet speeds matured.
2012 MCap:
$48.9B
In 2010, understood the value
of content creation and
ownership as they moved into
self-produced content.
2006 MCap:
$1.8B
30. CHANNEL PIVOT
when you pivot to deliver your product/ service through a different channel
“Netflix: Rent as many DVDs as you
want for $20 a month. No late
fees.”
2020 MCap:
$238.9B
2010 MCap:
$9.3B
“Watch Netflix movies & TV
shows online or stream right
to your smart TV, game
console, PC, Mac, mobile,
tablet and more.”
“Watch TV Shows & Movies
Online or Streaming to your
TV via Wii, Xbox, PS3 & many
other devices.”
2012 MCap:
$48.9B
"Watch Movies & TV Shows Online
or Streaming right to your TV via
Xbox, Wii, PlayStation & many
other devices.”
2006 MCap:
$1.8B
Netflix’s Channel Pivot
31. CHANNEL PIVOT
when you pivot to deliver your product/ service through a different channel
Netflix
“The Easiest Way to Rent
a DVD!”
mail-order DVD rental
service that promises 2 –
3-day delivery of the
largest catalogue of
movies
Netflix
“Watch Netflix movies & TV
shows online or stream right to
your smart TV, game console, PC,
Mac, mobile, tablet and more.”
envisions to become the biggest
global entertainment distribution
service by catering to the taste &
preference of its users
revenue earned from a monthly
subscription plan
product
promise
unchanged
product
functionality
changed
flexibility &
openness
changed
target user
demographic
unchanged
product
positioning
unchanged
technology
infrastructure
changed
Netflix’s Channel Pivot
34. What is making others pivot?
Deciding to pivot is a critical decision that most organizations make – probably the most
critical one as it involves a lot more stakeholders and could at times mean backtracking
on progress already made or realignment of teams. Here are a few indicators:
Smart startups will almost always pivot,
even more than once. It may be a
course correction, a new strategy or
may be a new business altogether.
According to the Startup Genome
Report that startups that pivot once or
twice grow 3.6 times better and raise
5.2 times more money than others.
Startups need to continuously have
their ears to the ground. This is what
keeps startups nimble enough to even
take on giants in the industry.
1
Traction or the lack of it
When a business fails to get
attention or plant a flag in a
particular space
2
Industries are converging
When forces are moving
different industries closer (say
finance & procurement)
3
Competition is innovating
When competitors seem to be
playing a better game or users
are not remaining loyal
4
Genuine Eureka moments
When competitors seem to be
playing a better game or users
are not remaining loyal
35. When do you need to consider one?
Deciding to pivot is a critical decision that most organizations make – probably the most
critical one as it involves a lot more stakeholders and could at times mean backtracking
on progress already made or realignment of teams. Here are a few indicators:
Your market/ need
hypothesis has changed
significantly
the market is
telling you to
Your pricing is
becoming the #1 selling
point to customers
The competition for
your value proposition
has become fierce
Most customers are
mostly using only 1-2
feature offerings
the customer is
telling you to
Most customers testify
to highly specific
product/ service claims
One segment has a
drastically different
traction or success rate
You feel like you are
always playing catch-up
with your competitors
the organization
is telling you to
Your growth rate has
plateaued while the
industry is thriving
Sales cycles involve a
lot of education, often
long or a high drop off
Your talent plan often
seems to change from
priorities
the talent is
telling you to
Your talent is leaving
you for your
competition
You are spending more
and more time on goal
alignment
36. Being at the right place at the right time
Pivots are a powerful tool to ensure that a business is built for what is needed at that
point of time for the market. It allows the management to capitalize on opportunities
when the time is right.
pivot can’t unlock
Team
32%
a pivot can directly unlock
Biz Model
24%
Ideas
28%
Timing
42%
Funding
14%
Key Success
Aspects >
When founders of
successful startups
across the world were
asked what they felt
were the primary
reasons that they
became successful,
this is what they
attributed their
success to.
37. What challenges would be a signal?
Deciding to pivot is a critical decision that most organizations make – probably the most
critical one as it involves a lot more stakeholders and could at times mean backtracking
on progress already made or realignment of teams. Here are a few indicators:
Indicators
3
2
1
6
5
4
Competition
Fierce competition, many
times led on pricing
Repetitive goal setting
Significant deviations needing
high-level redos
Product positioning
Product too complex or
features unutilized
Lost in plot
Initiatives consistently not
meeting planned outcomes
Industry feedback
Feeling of being in the wrong
industry or segment
Strategy gaps
Sense of being in the market
with wrong product/ features
38. But why should I consider pivoting?
Pivoting has helped organizations that got it right significantly leapfrog and achieve
breakneck speed by changing/ clarifying the focus. In the world of startups (especially
those who can afford to), this has been directly reflected in their enterprise value.
valuation
before
valuation
after
18m
$2-3M $250M
12m
$4-5M $1,700B
24m
$12-15M $700M
12m
$4-5M $25M
valuation
before
valuation
after
24m
$1.8B $2.3B
22m
$40M $1B
36m
$25M $4B
8m
$0 $1B
Instagram
YouTube
Practo
Zetwerk
Netflix
Udaan
Dropbox
Slack
39. To improve is to
change; to be perfect
is to change often.
- Sir Winston Churchill
Former Prime Minister, United Kingdom
41. What should I be avoiding?
Pivots are tricky to say the least. They involve a complete rewiring of goals and OKRs.
Which means that the keys to success of a pivot are as much inside the organization as
they are at your customer’s/ user’s end.
1.5x
startups fail as a
result of failed pivots
compared to those
that were successful
with their pivots
Why?
1
2
3
Trying to pivot into
something you don’t
know well about
Pivoting when there
isn’t a need for one
really
Pivoting to a highly
established segment
already competitive
Shipping
service for
individuals
$1B valuation
Shipping
service for
SMBs
shutdown
Flash sales for
fast fashion
$1B valuation
Designer home
products
shutdown
High-end audio
device
$3B valuation
Mass market
fitness trackers
$3B valuation
4
Pivoting to a lesser
scalability model or
more complex model
Book stays
anywhere from
20k options
$100M valuation
Personalized
stays with flexi-
pay options
shutdown
▪ Rewiring to play the
volume game
▪ Significant change in
business model
▪ Highly competitive
product category
▪ No sustainable
advantage
▪ New R&D focus of
company
▪ Faulty product
delivery
▪ High servicing &
retention cost
▪ User acquisition built
on price competition
from to
42. What advice would this be for me?
In a world as dynamic as ours, both user preferences and the state of competition can
change rapidly. While tricky, Pivots are sometimes the only lifeline for a few companies.
They are journeys that need to be taken. So are there some golden rules?
ALWAYS PIVOT WIDER
OR DEEPER
as pivoting to something
smaller is a death-knell
listen to the
market
TALK TO THE MARKET
MOVERS
before making a switch in
the market focus
Idea to pivot are driven
outside-in rather than
inside-out.
PAY ATTENTION TO
YOUR CUSTOMER
and what he is really
asking for
listen to your
customer
REATTEMPT A QUICK &
DIRTY PMF
even if at a much smaller
scale with experiments
Pivots must not kill the
magic sauce you have
already made.
A PIVOT IS NOT A NEW
BUSINESS
use what you have built
and build on it
listen to your
organization
PLAN, PLAN, PLAN &
then PLAN B
as assumptions can
change significantly
IF EVERYONE ISN’T ON,
NO ONE IS ON
whether it is at a goal
setting level or KPIs
listen to your
talent
QUESTION IF THIS IS
RIGHT FOR YOUR ORG
ability to build businesses
varies for teams
Pivots must be like
band-aids – right off
and quickly.
43. Growth is never by mere
chance; it is the result of
forces working together.
- James Cash Penney
Founder, JC Penney
45. Anatomy of a successful pivot
The ability to address uncertainties head-on can be rooted in a first principles thinking. The
factors here are more human, more philosophical than technical. It is hard to one factor and
attribute success to it because the complexity can be more than an internal factor.
Embracing change,
while keeping the
essence intact
external internal
These principles increased their odds of having things fall into place.
Fortuitous
Timing
Studying
Competition
Proactive
Leaders
Extend >
Revamp
Improved phone cameras
gave impetus to digital
photography as photo
albums became passé
Thanks to the advent of
technology, venturing into
online streaming seemed
possible for the first time
Marrying photos with filters
embraced the comfort that
users were having to using
smartphone tech
‘Netflix Originals’ certainly
mitigated the risks of being
cut out by the media
houses
Pivoting from the game to
an image hosting service
was risky but was what users
wanted
Building products that the
people wanted as a motive to
their existence allowed them
to be nimble
Expanding to functions that
are more wholesome and
go deeper into the
customer relationships
Credits where due - building
a relationship beyond just
listing helped give a lasting
moat to our business
46. The right thing at the right time
The truth is that it can always feel like the right time to pivot. When you’re exposed to success
stories of companies that made it big, you could see a growing temptation to change course. But
the most important consideration you need to have? Timing.
why it made sense
Paid heed to the insights shared
by the first 100 users-
focusing on photo sharing.
Lucky for us, it was quick!
An [….] attempt to build upon the
aspect that gets most traction
could be an opportunity lost if not
grabbed early on
An early pivot made sense as the
relationships it had gathered could
now help solidify its moat as a
B2B marketplace
Pivoting after having a sizable
userbase made sense as it could use
its existing users in order to onboard
new ones through a referral program
Right when technology for
streaming had matured, it pivoted
to its streaming business so as to
deliver more entertainment value
Pivoting late made sense as it had
built an established userbase and a
superior product which it could
leverage to a subscription model
Journey
0-3 3-7 > 7
Years
4
Months
6
Months
15
Months
2
Years
3
Years 5
Years
10
Years
13
Years
21
Years
47. The future is already
here – it's just not evenly
distributed.
- William Gibson
The Economist, 2003
48. thing
the right
Today, a pivot is more than just a short-term survival
response – It’s a response for long-term resilience. Most
great pivots were brought on by a healthy mix of
introspection and vision for the future. But what united them
was that they were always well timed, decisive and quick.
So should you?
The woods are lovely, dark and deep,
But I have promises to keep,
And miles to go before I sleep,
And miles to go before I sleep.
Robert Frost
‘Stopping by Woods on a Snowy Evening’
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