I bumped into friend who recently had a successful exit to a tech start up. One thing that I have really looked onto with envy is his ability to throw the old model out and start a fresh. In fact, he did it more frequently and with more haste than most people I know. if it wasn’t working he moved on to an entirely new idea, or made a quick pivot onto the sticky good parts of the concept.
Turns out this process has worked for him.
I’ve been more of a stay the course kind of guy. This comes from my general long term philosophy on when it comes both investing and how to live life. I’ve recently wondered how much this has held me back in startup land – while acknowledging it has worked very well for me financially. But what I’m starting to realise now is the difference between pivoting from an idea as opposed to pivoting the process. And that I can remain true to my ethics so long as I don’t confuse the former with the latter.
The course is the process, the pivot is the direction.
Most of the most important projects I have ever done, I didn’t really know how to do them before I started. Some I didn’t even really know how I did it after I completed it.
I feel one of the most important insights to this new era of entrepreneurialism, is that knowing the answer is not really that important – if at all important. We instead just need to make it up as we go along. Ask a lot of questions and be honest with the people in the process that there is quite a lot that we just don’t know, at least until we build it.