Building a startup or a new company is not easy. No matter how great the idea or the beginning of a startup plan will not guarantee a successful startup can be 100 percent. Not infrequently, the startup had made several pivot in order to succeed.
Pivot usually had to be done by a failed startup. This strategy is performed in order to adapt to market startup. In doing pivot, there are many elements of a startup can be changed, such as technology, target users, products, and even the basic idea. In essence, the pivot is very dependent on the condition of each startup and foresight of its founders to see new opportunities.
Many major digital companies that we know today to be successful after the pivot. For example, Nokia, Hewlett Packard (HP), Nintendo, PayPal, and Twitter.
1. Nokia
This smartphone manufacturer is highlighted because of its business amid declining. However, Nokia as we know it is still a major player in the telecommunications industry. In fact, when he first pioneered in 1865 in Tampere, Finland, Nokia is a paper mill.
Entering the 1900's, Nokia began to create a variety of products, such as boots made of rubber, cables, plastics, electronic devices and computers, and even military equipment.
In the 1990s, Nokia swerved into the business of telecommunications equipment. Up to the present, Nokia is well known as a manufacturer of smartphones and one of the major players in the telecommunications industry.
2. Hewlett Packard
First established in 1947, HP is a company engaged in the field of engineering. One of the products developed by HP is an audio oscillator, a kind of electronic circuits for audio devices.
HP produces a variety of electronic test tools, such as voltmeter, thermometer, signal generator, and an oscilloscope.
In 1960, HP began to enter the computer business. HP introduced the product of personal computers (PCs) were first mass produced in 1968, and began producing computer support products like printers and scanners in the 1980s.
Target HP at the time was the business and education markets. In the 1990s, HP separates the non-computer product line to a new company called Agilent, and began targeting home PC users as the target.
3. Nintendo
Nintendo was first established in 1889 in Kyoto, Japan, under the name Nintendo Koppai. At that time, Nintendo is famous as a manufacturer of "hanafuda" or a Japanese card.
A century later, the company is expanding its business and tap into some other business sectors. Its name changed to Nintendo Company, Limited. The company is building a number of subsidiaries, such as taxi companies, hotel chains and food companies that sell instant rice.
In 1966, Nintendo re-transform the business and entered the toy market. In 1970, Nintendo began producing electronic game "Game & Watch" and the first game console, the Famicom (Family Computer), which is then distributed to exit Japan with the name of the Nintendo Entertainment System (NES).
Until now, Nintendo is still known as the leading manufacturer of gaming consoles.
4. PayPal
Just so you know, in 1999, PayPal is the name of an application made by a company called Confinity. Initially, PayPal is designed as a mobile payment system that utilizes a PDA device. Because PayPal system uses strong encryption, Confinity obtain permission from the Government of the United States (U.S.) to offer outside of the U.S. payment system.
In 2000, Confinity merged with online financial services company, X.com. The merged company was then make use of the name X.com considered more potent than Confinity or PayPal.
However, the development, the name X.com actually invite negative assumptions and impressions porn. Therefore, after the restructuring, the company changed its name to PayPal Inc.
5. Twitter
In 2005, the founder of Twitter, Noah Glass and Evan William created a startup called Odeo podcasting service-focused. But they quit the business after Apple's iTunes Store came up with a similar service.
Noah and Evan then discuss with their colleagues, Jack Dorsey, who was developing a unique messaging service. The core team Odeo, including Biz Stone, eventually building a new startup called Obvious Corp..
Through this new startup, they developed a number of applications, including messaging applications with the code name "twttr". They added two vowels into the code name of the application, a Twitter, and released it in 2006.
In 2007, Twitter became popular. By Evan, Odeo was sold to Sonic Mountain company based in New York. After the pivot, Odeo still exists today as a platform provider for enterprise-class video management.
The five companies mentioned above are examples of companies that became successful after the pivot. But their journey to success was not exactly instant.
Besides them, there are many startup-at home and abroad-that did pivot in order to save his business. Not infrequently, the pivot should be quite extreme and demanding startup founders to change the basic idea, the type of service, as well as the target user services.
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