A pivot is not just changing the product. A pivot can change any of nine different things in your business model. A pivot may mean you changed your customer segment, your channel, revenue model/pricing, resources, activities, costs, partners, customer acquisition - lots of other things than just the product. A pivot is defined as a substantive change to one or more of the 9 business model canvas components.
Steve Blank, Four Steps to the Epiphany.
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