You Don’t Have to Pivot in a Crisis

This week's article is written by Daniel Isenberg and Alessandro Di Fiore and published in the Harvard Business Review.
Interesting points from the article include:

• While most start-up ventures responded to COVID by pivoting to new markets, there were a few that deliberately did not pivot and made minor tweaks to their strategy. A CEO likened COVID to being ‘a wartime scenario with little information, and the worst thing would have been to run amuck’.

• The plan of action for companies who didn’t pivot was to ‘slow down, reaffirm your thesis, trim around the edges, watch the data, and test for weakness — and if you do have to pivot, do it explosively’.

• These companies have adopted the behaviour of a cheetah, i.e. never pursuing at full speed so they don’t over-commit and can change course effectively when required.

Read the full article here.