Willingness to Pivot
When I address groups of entrepreneurs at college business plan competitions or other venues, I often talk about their eventual need to pivot. This certainly surprises them, because they usually think their initial idea is perfect. Such conversations lead to blunt reality checks for entrepreneurs who need to reconsider their plans.
It’s not easy to pivot or make changes, to abandon cherished business assumptions. I want to see evidence that the entrepreneur is not only willing to pivot when necessary but eager to do so when business conditions make it necessary.
An active New York Angel, Alain Bankier is one of New York City’s earliest successful angel investors. He was one of the first board members of the New York New Media ...
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