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The word "pivot" was applied to entrepreneurship by Eric Ries, entrepreneur, author and pioneer of the lean startup movement, a business strategy that advises startups to allocate their resources as efficiently as possible. "Through pivots," says Ries in Inc., "we can build companies where the failure of the initial idea isn't the failure of the company." A pivot can change any of nine different things in a company's business model: product, customer segment, your distribution channel, revenue model/pricing, resources, activities, costs, partners and customer acquisition.

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