When Do You Pivot, Proceed or Quit?
A tough question every entrepreneur has to consider about his or her business is when to pivot, proceed or just plain quit.
A lot of this depends on whether or not you think your company has found product-market fit. Does your minimum viable product match up with your customer archetype (that typical person with specific behaviors, like and dislikes you think should be buying your product or service)? Are these people interested in and buying your product? If yes, proceed. If the answer is no, it's time to take a look at the other two options--pivot or restart.
In this segment of Kauffman's Founder School, entrepreneurial thought leader, Steve Blank, offers valuable advice as well as examples of well-known companies who, at one time, had to tackle this same question. In less than three minutes, you’ll gain insights for managing through this tough decision.
For more examples, check out Forbes' 14 Famous Business Pivots.