Innovation with Mark Peter Davis Our 100th Episode! How to pivot your startup and why it’s important / shouldn’t get a bad rap.
DESCRIPTION
In this week’s pod, we celebrate our 100th episode! I want to acknowledge the work of our amazing podcast producer, Will Richardson who keeps this going. The main topic of discussion is pivoting in the context of startups and entrepreneurship. Phuong, Incubator Partner at Interplay, provides insights into the pros and cons of pivoting and how to approach it strategically. She emphasizes that pivoting is a natural part of the early stages of a business and suggests that founders should continually evaluate and make changes to optimize their product, customer base, business model, and positioning.
Phuong also offers guidance on recognizing the right time to pivot, such as when initial efforts are not yielding results or when external factors impact the business. We discuss the importance of receiving honest feedback, not settling for vague responses and emphasize the value of finding the right balance between pivoting and sticking with a failing idea.
Thank you to Phoung and to our listeners for celebrating our 100th episode!
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