The Pivot! – Part 2
“A pivot is a change in strategy without a change in vision”
– Eric Ries
Last month we started the discussion about pivots, about the important part they play in a business journey, and that IT’S OK for changes and hiccups and missteps to occur. And don’t think a pivot is exclusive to a start up business. Any business who is paying attention to their market, differing trends and their client habits are always ready to embrace the next pivot.
Those who don’t…. well… anyone remember Blockbuster Video?
Not long after out last blog our team attended the Startup Onramp Founders Course where our fearless leader – one Robert Buehrig – presented to the cohort about this exact subject.
The Startup Onramp Founders Course is a two day intensive focusing on early stage founders to help them carve a path to successfully begin their start up. (Shout out to CEO Colin Kinner and Entrepreneur in Residence Nick Shewring for providing such a great program!)
One of the biggest lessons in creating a start up surrounds the understanding of the problem you’re trying to solve or the need you’re trying to fulfill. Understanding comes with the realisation that your end result may not reflect the original idea you started with and tying an emotional investment to that original idea may become a hindrance to your ability in moving forward. As environments change or more research is conducted, you might find your direction will alter, or what you thought was a great solution may create a negative flow on effect. And that’s ok! So long as you’re paying attention and course correcting.
While your idea or solution may appear to be as amazing as Netflix on a rainy day, do you know the ACTUAL value it brings to your potential clients? What is perceived as a solution in the beginning may only be a quick fix and cause more problems in the future.
So, how do you know if your product or service is a positive solution or a hindrance?
After our own research, findings and pivots we had to figure this out to, and so, the Solution Effectiveness Level was created. We found that using this as a measurement tool allowed us a greater understanding of the problem being addressed and the overall impact a solution has, not only on the specific problem but the surrounding people and environments as well.
Eradication – The problem is solved for everyone and will never occur again
Cure – The problem is solved for the majority, but there is a possibility that it will happen again
Prevention – This problem instance is solved, but will likely reoccur in different situations or environments
Band Aid – The immediate pain is fixed but is still systemic and will resurface
Scrape – The problem is small and will only affect those directly related
Infection – The problem will likely spread to other situations and environments
Disease – The problem affects a large number and hinders the ability create positive outcomes
Pandemic – The problem is standardized, widespread and negatively impacts every task or service
The shameless plug of TANDM begins here as we talk about how the software can easily help identify the root cause of a problem, prove the worth of an implementation or show the impact your product or service can have on a problem or need.
While our mission started with wanting to help improve the way healthcare is delivered, we’re just as passionate about helping start ups validate their product as well as wanting to help established businesses remain current with their offerings. It’s not always about the competition. It’s about supporting and building each other to success.
If you’d like to chat more about the benefit your product or idea brings, or are trying to identify what the true problem is within your organisation we’d love to hear from you.
Pivots shouldn’t be regarded as a failure or something to fear. What’s worse is going to the trouble of creating a product or service that causes more headaches that no one wants.
Keep with the optimist mindset and don’t be afraid to keep dancing until you find your groove!
Want to know more? Get in touch below!