Lenny’s Newsletter · Subscriber post · Product strategy & vision · Startups & founders

The art of the pivot, part 2: How, why, and when to pivot

Strategies from the data for your “pivotal” decision

Lenny RachitskyMay 14, 202431 min♥ 130
SourceLenny’s Newsletter
KindSubscriber post
PublishedMay 14, 2024
Readers♥ 130
Originallennysnewsletter.com ↗
N:

Part two of Lenny's pivot series argues that pivoting is fundamentally about opportunity cost and distinguishes early ideation pivots from hard pivots on live products. It draws on founder-reported data to suggest timing benchmarks, signs that a pivot may be warranted, and four recurring paths to finding a better idea, closing with a framework for judging whether to stay the course.

Subscriber post — summary only

01Key takeaways

  • Pivoting is largely about opportunity cost: a pivot buys more shots on goal to find product-market fit.
  • Separate ideation pivots (early, often within three months of launch) from hard pivots on live products (often around the one-year mark).
  • Strong pivot signals include persistent lukewarm interest with poor retention and realizing the idea cannot reach the size you expected.
  • Promising new directions often hide in what users already do: a single feature, an internal tool, an adjacent market, or ideas generated internally.
  • Judge whether to stay by asking how much conviction you have in the solution now, knowing what you've learned since starting.
“It's much easier to be lucky when you get half a dozen shots on goal than one.”Dalton Caldwell · Lenny’s Newsletter
“How much conviction do you have in the solution you're building?”Scott Belsky · Lenny’s Newsletter

02Frameworks mentioned

Summary and takeaways written by PM Atlas; quotes are short excerpts. © the original author.