My favorite coffee shop is about a mile from my office, and it has an unexpected name: Second Best Coffee. That’s a strangely self-effacing way to market a cup of coffee, isn’t it? So, why “second best”?
In movies, television shows and magazines, entrepreneurs are idolized and presented as individuals with laser-focused plans who are willing to work through obstacle after obstacle to make their big vision a reality. While most entrepreneurial success arises from an understanding of where you are and where you want to be (i.e. the big vision), this emphasis on stubborn determination is a bit overblown and, frankly, bad for business.
The truth is: great entrepreneurs must be willing to change. The really good ones understand that new businesses and products are unreliable, and they will likely need to change their idea at some point in the future. In the startup world, we refer to these changes or strategic shifts as “pivots.”