Your idea is probably wrong
"A startup is a search for a scalable, repeatable business model"
- Steve Blank, Four Steps to the Ephiphany
What is a Pivot?
"The idea that successful startups change direction but stay grounded in what they've learned"
- Eric Ries, The Lean Startup
Dont be scared.
Everyone does it.
Flickr
Online Game -> Photo Sharing
Paypal
Palm Pilot Beam $$ -> Printing Money
Not Just Internet
Panasonic/National
Bike Lamps -> TVs
Nintendo
Playing Cards -> Console Games
LivingSocial Story
~4 Public Pivots
100+ Private Pivots
Social App Consulting
Visual Bookshelf
Lots of Interests
Buy on Amazon!
Yay! $0.50!!
Custom Advertising Deals
LivingSocial - Pick5
Content Expansion
#1 Application Facebook
0 to 35M users in 3 weeks
How are the servers doing?
They beat us
Became #1
How Did they do it?
Paying Customers Rule!
eCommerce is awesome
Lessons after 4 Pivots....
"Execution Matters, Ideas Don't"
Fred Wilson, VC @ Union Square
Dont talk yourself out of ideas.
Data. Data. Data.
Test. Test. Test.
MVP - Minimum Viable Product
MVI - Minimum Viable Idea
300 words
Google/Facebook
Build your Toolbox
"Intra"-preneurs Rule!
J.S.I.O.
Don't ever be satiated...
Q&A