When to pivot or add a vertical market to your business

Running your startup over the course of a couple of years with your team is a very challenging thing to do without funding. The few that have succeeded are the success stories that you hear every day. A lot of these large companies at one point did something different, but realized it wasn’t working out. So they switched their business model (pivoted) to something that worked and eventually that led to success.

Other companies find other areas in their industry called vertical markets and successfully launch other products that cater to those markets. The question is, how do you know when you should pivot your idea, or simply launch something in a vertical market? Well the answer has many variables. In this episode I explain both pivoting and vertical markets.

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