What Makes an Entrepreneur (3/11) – Ability to Pivot

VCs often tell entrepreneurs that they want to see “traction” before they’re ready to invest.  What I believe they really want is longer to get to know you.  And part of what they’re looking for is how you adapt to the business you’re building over time.  Every entrepreneur starts with an idea that they believe makes sense.  But then your customes start using your products, your competitors come out with new offerings and your business partners decide to launch a similar product rather than working with you.  You’re forced to “pivot” on a regular basis.   The best entrepreneurs get market feedback regularly and change their approach based on the latest information.  The best entrepreneurs seek advice from everybody they need, learn lessons and make minor adjustments on a monthly basis.

 

(Full Post: http://www.bothsidesofthetable.com/2009/12/17/what-makes-an-entrepreneur-310-ability-to-pivot/)


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Mark Suster 

Mark Suster is a 2x entrepreneur and an investor. He joined Upfront Ventures in 2007 as a General Partner after selling his company Koral to Salesforce.com. He focuses on early-stage technology companies. 

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Collection: Personal
Category: Entrepreneurial Qualities