[caption id=“attachment_2772” align=“alignright” width=“300” caption=“Adaptations help this little chameleon survive; entrepreneurs- take note!”][/caption]
In the fast-paced and ever changing tech realm, quick thinking and adaptability are important factors to success. New ideas are hatching faster than they can be built, and its a wonderful thing!
With all of these great ideas floating around, start-up leaders are finding, by trial and error, that some ideas are better than others. What happens when you come to this realization after you’ve already been plugging away on something else? You pivot!
Pivoting is a business term for changing something fundamental in your business model. For example, have you heard of Skimbit?
Skimbit was the company from which Skimlinks was derived. Our CEO and Co-Founder Alicia had been working on a social discovery and sharing site for two years when she realized that it was her monetization strategy that really caught the attention of potential customers. Skimbit quickly pivoted to become what we now know and love- Skimlinks!
Our co-founders Alicia and Joe recently sat down with Wired Magazine UK to tell them our own pivoting story and discuss “How to adapt your business model on the fly.” Click through for the full story!
Chameleon photo used under Creative Commons by Flickr user mouseshadows