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Startups that Succeeded by Change in Business
By siliconindia
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Fremont: "Because things are the way they are, things will not stay the way they are", says Bertolt Brecht. With many startups, who failed to lead the market with their first launch, adopted the "Pivot" rule and gave another chance to their luck. Pivot sometimes prove a blessing for such startups and this principal applies to all industry. With lean resources and quickly changing markets, startups have the most to gain from pivoting and the most to lose from missed opportunities.
There are several reasons for such changes that differ from business to business. Also, there are several factors to be taken into consideration when making the decision. Some companies might just need to tweak a bit and some might even have to scrap it all together. The technique of pivoting is not new though and many established companies look significantly different now than in their early days. Thanks to the pre-existing companies that provide examples of successful adaptation. Below mentioned are few such startups that gained momentum due to such change in direction.
YouTube
As a startup, one is advised to start small and focus on niche markets. But with a great team, your focus can be a wide horizon and that can be worthwhile. Founded in 2005, YouTube began as a video dating site called "Tune In Hook Up". But, when the site failed to gain traction, the founders scrapped the idea. They decided to focus on simply sharing videos online.
Later, the company was acquired by Google for around $1.65 billion in stock. Today, users are posting more than 35 hours video per minute.
