Founders

Going to try a new thing where I do AMAs on a topic I'm being asked about in private convos...

This week: hard pivots

More founders I've been speaking with are considering one. A common preceding theme is weak product-market fit, or lack thereof. 

Any Qs on pivoting, AMA

Building @withfam Prev. Co-founder @ Talisman ✴︎ Member @ FWB, Refraction, The Park, UFO ✷

Ideal conditions: determination of weak/no PMF for current thing, sufficient runway, high conviction in a new direction, earned secret/advantage for that new direction 

Being transparent, confident with team and investors is the way to go. They’re either on the bus or off.

What are the combination of conditions / circumstances that would make a hard pivot the logical path forward?

What is the best way to communicate this to team/stakeholders?

And how is this generally perceived from an investors perspective?

Building t2.world socialized web3 publisher / London

ideal time to pivot isn't under time-pressure

I know that some builders are excited about making a new thing every other week and see what sticks. But have you seen any "conviction" founders successfully make a hard pivot? Must be hard to stack years of thought and research against a time-pressured pivot that feels more like a panic move