I’m talking about the pivot. The right turn you take in a business to unlock explosive growth. • Adobe sold software on disks and now they rent it • Netflix was a DVD company before it dominated streaming • IG was a check-in app before it became the highlight reel of your life The pivot can be a tiny tweak to the product, distribution, supply chain, or just about any other aspect of the business. Some iconic examples: → William Rosenberg opens a diner called Open Kettle in 1948.
Soon he notices that coffee and donuts are the top sellers. People are actually buying the coffee so they can dunk their donut before each bite. He pivots to a new concept and gives it the name Dunkin’ Donuts. → Kutol Products develops a putty in the 1930’s. It’s used to clean wallpaper. Before long, that market evaporates and Kutol’s on the brink of bankrupcy. But they discover a nursery teacher who’s using the putty in her classroom.
They rebrand as “Play-Doh”. And it all works out. → Ingvar Kamprad starts a mail-order company in 1943. He’s selling household items like pencils and picture frames. Five years in, he sees a bigger opportunity and goes all in on furniture. He calls the company IKEA. Be consistent in your approach. But don’t be afraid to adapt. Breakthrough growth could be just one pivot away.
