What are some success stories of businesses that pivoted their niche?
One notable success story is Slack, which started as a gaming company but pivoted to become a leading communication platform.
That's interesting! Can you give me another example?
Sure! Instagram began as a check-in app called Burbn before pivoting to focus on photo sharing, which led to its massive success.
What factors contributed to their successful pivots?
Key factors include market demand, adaptability, and leveraging existing technology to meet new customer needs.
How can a business identify when to pivot?
Businesses should monitor market trends, customer feedback, and performance metrics to identify signs that a pivot may be necessary.
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