Pivot: How Top Entrepreneurs Adapt and Change Course to Find Ultimate Success
Format: PDF / Kindle (mobi) / ePub
A proven approach to achieving entrepreneurial success in new corporate ventures and startups
Every day, business and corporate startups take action based on assumptions. Yet these assumptions are based largely on guesswork that leads to everything from costly mistakes to the failure of ventures. Fortunately, there are ways to overcome these issues and excel in your business endeavors—and this book will show you how.
Engaging and informative, Pivot provides entrepreneurs with practical guidance for achieving success in corporate ventures as well as new startups. Based on more than fifteen years of academic research and many more years of experience in business and corporate startups, this book skillfully addresses topics ranging from resources and organizational uncertainties to the scope and scale of new business opportunities.
- Reveals how to successfully conceptualize new business opportunities, pivot as required to experiment with these opportunities, and accelerate to the marketplace
- Captures the capabilities needed to quickly build a business by understanding and systematically reducing uncertainties from market landscape and technology to talent and organizational positioning
- The digital component of this book includes a world-class strategic innovation methodology that is in demand from corporations worldwide
Written with today's serious entrepreneur in mind, Pivot will provide you with the tools you'll need to get ahead of the competition and achieve consistent success.
bookstore—no Amazon back then. In addition, I spoke to successful business professionals and I looked to my experience at General Motors (GM). I succeeded; however, I didn’t realize it at the time, but the steps work rather well when a firm is trying to produce a new iteration of a current product, yet they fail miserably when applied to more breakthrough-type innovation opportunities. It wasn’t until my third startup, Ironsilk, that I came to realize that this traditional approach does not work
started to take precedence over what had been Nortel’s strong research and development (R&D) heritage, with its ability to leapfrog generations of technology. At the time, our strategic innovation model was considered leading-edge by RPI, Fast Company, and the Corporate Strategy Board, among others. I left Nortel in 2000 acknowledging that what I valued, which was a balanced internal and external investment strategy for growth, was not shared at the highest 16 PIVOT levels in the company.
including the trip to Miami, then to Brooklyn, and finally to Queens, New York. Maybe I picked up on my father’s concerns. Maybe it was the beginning of living with years of uncertainty about every basic need from food to electricity. I like to think that it has something to do with my entrepreneurial spirit. The market was filled with entrepreneurs trying to sell their goods. Some of those entrepreneurs would go on to build supermarket chains. Others would fail. Did this environment influence
degree by going to school full-time while working on my next startup—a medical device startup out of Albany, New York. It was tough juggling a full-time class workload and launching a startup. This startup was the first one that I did not found; instead I was hired to be the CEO. I was able to recruit fellow MBA students to be part of the startup. We had great chemistry, and for the first time in my career I participated in a business plan competition. We won the competition and were able to
think more strategically about the opportunities they were working on.” And how do companies deal with failure and tap into expertise? Steve Pierson, chief business innovator at Grundfos, shares this story with us. Learning loops were invaluable for reducing uncertainty in an efficient manner. Learning loops can yield success, failure, and learning. The first learning loop for one of our projects was a complete failure, but we didn’t want to admit it. We should have made the call to kill the