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A pivot is a change in direction. It can happen for many reasons, such as a product or service doesn't seem to be working, or the market has changed.

What is a Pivot?

A pivot is a change of direction in an organization. It's a type of strategic change that can happen in a startup and is often the result of feedback from customers or team members.

Pivots are important because they allow companies to reposition themselves for success, and they can help a company avoid getting stuck in a rut. They can also lead to faster growth and fewer upheavals and delays.

There are several different ways to pivot a startup, but one of the most common is to pivot to a new business model. For example, a company might change from freemium to ad-based revenue models or employ different technology to build its product.

Another way to pivot a startup is to change the focus of the business. This can be done by changing the company's target market or by expanding its product line to include more features.

Many companies choose to pivot when their initial product does not appeal to customers or they have a lower than expected sales rate. This could be because a new competitor is offering a similar product or because their current market is not large enough to support the product.

Some companies decide to pivot if their gross profit margins have become low, and they need to diversify their revenue sources. They might do this by expanding into a new market or by adopting a different technology to build their product.

These types of changes may require some reorientation, but they can be successful and will ultimately save the company money in the long run. However, they may not be the right solution for every startup.

If you are a trader, you might want to watch for pivot points. These are calculated levels that traders view as important, and if the price moves above or below the level it is viewed as a change in course.

In trading, pivots can be used to enter and exit a position, and they are sometimes referred to as inflection points. For example, a trader might see the 52-week high as a pivot point and expect the price to continue moving higher.

What is a Zoom-In Pivot?

A zoom-in pivot is when one of your product features evolves into the whole product. Often this happens when you release a new feature to the market and early adopters are only using one part of your product, or the wider market doesn’t respond as you expected.

In this situation, you might consider re-focusing your product on that single aspect and releasing it as a standalone product. You may also need to re-work your value proposition, pricing, and distribution channels to cater for this change.

This can be especially helpful if you have a product with several different aspects that are not working as well as the others. For example, a social media app with a variety of photo sharing and video features that aren’t attracting the users you wanted to.

Once you get an understanding of how the features are performing, you can decide which ones to keep, which ones to eliminate, and which ones to re-focus on. This can be a great way to streamline your offering and make the most of what you have.

It can also be a good idea to test multiple features simultaneously to determine which ones perform better, which are most popular amongst your target audience, and how you might position it for a new audience or value proposition.

Another kind of pivot is called the customer need pivot. When your customers say that they don’t find the problem you’re solving important or that you don’t offer a value-add they would pay for, this is a sign that you need to re-position your offering to cater to a different need.

A customer segment pivot is similar to the above, but instead of re-positioning your offering for a different segment, you might try experimenting with a different problem that is more relevant to your existing audience. This type of pivot can be beneficial for many different kinds of businesses.

Some examples of this sort of pivot include selling a product “direct” to customers rather than through other sales channels. This can be beneficial if your customer wants more control over their purchase, you want to reduce the overall sales cycle, or you simply prefer the simplicity of direct sales.

What is a Zoom-Out Pivot?

When a company has built a product that is successful but the market isn't embracing it, it may be time to pivot. It doesn't necessarily have to be a major change, and it can even be as simple as revamping your revenue model or changing your positioning.

A zoom-out pivot is a type of pivot that takes what was considered the whole product and makes it a single feature of a much larger product. This can be a good way to make your current product more useful to customers, while also getting the word out about it to a wider audience.

This type of pivot occurs when data shows that a single feature set of the product is insufficient to support customer needs, users or a certain market segment. Sometimes, this happens when the product was initially designed to solve a specific problem, but the reality is that it's attracting different customers than the ones you originally expected.

For example, a sports supplement intended to give athletes a competitive edge might be more effective for working parents looking for an energy boost after a long night or weekend. Similarly, a TV show that was initially broadcast on networks could be more effective on streaming platforms, such as Netflix.

The key here is that you must be able to identify which kind of problem you're trying to solve for your customers. If your products or services don't seem to be helping your customers solve their problem as quickly or effectively as you'd like, it's time to take a look at the other problems your customers might be experiencing and see if there's something else you can do.

It's also a good idea to watch out for any feedback your customers are giving you. If you're getting a lot of complaints, especially about price, features or the buying process, it might be time to reconsider the direction your business is going in.

It's also a good idea to keep a close eye on competitors. If any of them are utilizing technologies that you're not, it might be a good time to consider what other technological advantages you might have that your competition doesn't.

How to Pivot

Pivoting is a process that can help you change the direction of your business. It isn't necessarily necessary for every company, but it can be an effective way to improve revenue or survive in a competitive market. When you're ready to pivot, it's important to know how to do it effectively and efficiently.

To start pivoting, you must first select a data source and then create a new Tableau data file. You can do this by selecting your source data and clicking the Insert tab on the menu. Once you've created a Tableau data file, you can add columns and values to your data source.

After creating your data file, you can use the Tableau Desktop Pivot Tool to create a pivot. This is done by dragging two or more columns into a columnar format in the data source.

Next, you can select the fields that you want to add to your Pivot Table. These fields can be selected from the Fields menu in the Data pane of your Pivot Table, or you can drag them from within the pivot table. Once you've selected the fields that you want to include in your Pivot Table, you can drag them into one of the four areas - rows, columns, values, and filters.

The Rows area is the part of your Pivot Table that displays data based on your selection in the Values area. For example, if you drag Months into the Rows area of your Pivot Table, you'll be able to see the total sales of different months across various departments.

You can also drag a filter to the Filters area, which will allow you to further drill down on your data set. For example, if you drag the "Multiline retailers" field into the Filters area of your Pivot Table, you'll see all the sales for Multiline retailers in this data set.

You can also refresh your Pivot Table after updating it with new data. This will automatically update the format of your Pivot Table. However, make sure to check the "Autofit column width on update" and "Preserve cell formatting on update" options in the Pivot Table Options dialog box before refreshing your pivot table. If you don't, your table may display inaccurate data when refreshed.