Pivots

Click here for the video: http://www.academybridge.org/videogallery/lean-startup-pivot/

A pivot is a change in strategy without a change in vision. 

Eric Ries

10 Pivot Options

Zoom-In: A single feature in a product (service) becomes the whole product, thus highlighting the value of “focus” and “minimum viable product” (MVP), which can be delivered quickly and efficiently.

Zoom-Out: What was considered the whole product becomes a single feature of a much larger product.

Customer Segment: The product is positioned for a more appreciative segment, and optimized for that segment.

Customer Need: When the problem solved is not very important, repositioning (or a new product) is required to find a problem worth solving.

Platform: Iterating from an application to a platform (or vice versa) because most customers buy solutions, not platforms.

Architecture: Focusing on one of two business architectures: high margin-low volume (complex systems), or low margin-high volume (volume operations). You can’t do both at the same time.

Value Capture: The “free” model doesn’t capture much value, therefore many startups require a monetization model (revenue model) to capture value. This choise can have far-reaching consequences for the business, product, or marketing strategy.

Engine of Growth: Startups must select one of three growth engines: viral, sticky, or paid growth. Selecting the right model can dramatically affect the speed and profitability of growth.

Channel: Channel pivots require unique pricing, features, and competitive positioning adjustments.This impacts how a startup effectively delivers it product to customers (sales channel or distribution channel).

Technology: The technology pivot can provide superior price and/or performance and improve the startup competitive posture (same solution provided but with a completely different technology.

“The only way to win is to learn faster than anyone else.” - Eric Ries

Watch Eric Ries (The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses) describe the different pivot options:

Lean Startup 10 Pivot Choices

Why do sales slump at 18 months?

Good friend and awesome sales trainer Mike Bosworth explores the art of the traditional salesperson, and extracts techniques from top closers to find the connection between storytelling and earning trust.

Success is...

Success is the progressive realization of a worthy ideal...

Earl Nightingale

Listen to this excellent recording made in 1956 by one of the greats:

Ben Franklin; Four Rules for Living

Franklin’s Four Rules for Living

1. It is necessary for me to be extremely frugal for some time, till I have paid what I owe.

2. To endeavor to speak truth in every instance; to give nobody expectations that are not likely to be answered, but aim at sincerity in every word and action – the most amicable excellence in a rational being.

3. To apply myself industriously to whatever business I take in hand, and not divert my mind from my business by any foolish project of growing suddenly rich; for industry and patience are the surest means of plenty.

4. I resolve to speak ill of no man whatever, not even in a matter of truth; but rather by some means excuse the faults I hear charged upon others, and upon proper occasions speak all the good I know of every body.

Harvard Biz School Pitch Deck Study

Recent Harvard Business School study of 200 pitch decks: 
https://docsend.com/view/p8jxsqr

Here's a TechCrunch story on the above, with lots of comments:
http://techcrunch.com/2015/06/08/lessons-from-a-study-of-perfect-pitch-decks-vcs-spend-an-average-of-3-minutes-44-seconds-on-them/

Pitch deck guidelines:
http://www.sketchdeck.com/article/writing-a-great-pitch-deck/

✅Wanna be a Unicorn? Feeling Lucky?✅

Your startup has a 1.28% chance of becoming a unicorn

✅10 Ways to Boost Productivity ✅

There are tons of ways to boost your productivity, and here are ten of them.  But one of my favorites is missing from the list: UNSUBSCRIBE from a lot of those emails you get but never read! Open up your bandwidth for real work. Also UNFOLLOW and UNFRIEND until the chatter gets close to zero. Twitter? Forget it. Email only on focused time slots during the day.  Never answer the phone unless it's a pre-arranged meeting. Let it go to voicemail. You'll be surprised how many phone calls you don't need to take...  Excuse the rant, here are the ten: