Pivot means that a startup has decided to change their business model. This can be a drastic change (a completely new business model in a different sector) or a slight change (usually a major change in the company’s product to address a larger market opportunity in the same sector).
Pivots are quite commonplace in the startup world. We see and hear about them all the time. Startups are tumultuous by nature, disrupting the status quo by design and led by smart, entrepreneurs with “never say die” attitudes.
