Entrepreneurship and the Art of the Pivot

In an entrepreneurship journey, knowing when to pivot is critical. Teaching students to know when to pivot is really hard. In this lean startup process, a pivot is “mak[ing] a structural course correction to test a new fundamental hypothesis about the product, strategy and engine of growth.”

Source: http://www.alexandercowan.com/creating-a-lean-startup-style-assumption-set/

The best way I can help my students understand the nuances of pivoting is to show them through my own example.

My original problem hypothesis:

College business students cannot find timely, actionable career preparedness advice in an easily digestible format they enjoy. I know this because for 6+ years I have been mentoring these students through career preparedness.

My early adopters: 

  1. Junior & senior College of Business (COB) females
  2. Junior & senior College of Fine Arts (CFA) females
  3. Random freshman females

I conducted problem interviews with 5 junior & 6 senior COB females, 5 junior & 5 senior CFA, and 3 freshman females. In those interviews I asked students about their behavior surrounding post-college and preparing for their career. Only 2 of the 24 I interviewed mentioned anything about these behaviors as problematic. Most just shrugged it off.

I reflected on why I was so sure this was a problem for these students. It’s because I have heard from so many former students who are 2-5 years out of college that it’s a problem. AHA!!!!! I fell into a typical entrepreneurship trap – listening to one customer group (recent graduates) and ascribing the problems they mention to another group (juniors & seniors). While I and the recent graduates know that the lack of adequate and timely career preparedness advice is problematic for current students, I did not validate that those students see it is a problem.

The Pivot

I now had a choice. I could continue working on what I know is a problem for these students. If I continued, I would have to sell students that this is a problem, then sell them my solution to this problem. That’s really hard. Or I could go back to the drawing board, not be married to my idea, listen to the interviews. That’s what I did.

I thought about another group to whom I had easy access and had some inkling of their problems. New (assistant) entrepreneurship professors. Many of them reach out to me for advice on how to teach certain topics, what resources to use, how to make their classrooms more realistic. I have found in talking to them that many do not have any practical entrepreneurship experience. They want resources, BAD!

My new problem hypothesis:

Entrepreneurship professors don’t have tools to teach experientially. I know this because for 6+ years I have been approached with requests for resources / reviews of syllabus.

My early adopters:

Assistant professors of entrepreneurship in US (ideally with no/limited practical experience)

Source: https://thefocusframework.com/

I teamed up with Justin Wilcox for this effort because he is a guru of customer interviewing (among many other things lean startup) and because I love the tools he created in FOCUS Framework. What we found in our early interviews is that there are professors who do indeed want simple tools to help them teach entrepreneurship in a more experiential way.

Next Steps

We created a blog where we share quick strategies and lesson plans around the most common problematic topics in entrepreneurship education.

Our first post was “Teaching Entrepreneurship Idea Generation” because many entrepreneurship educators struggle with helping students identify quality ideas. With each post, we include a 45-minute lesson plan so educators can quickly put our strategies to use in their classrooms.

Our second post was “Intro to Problem Validation” because many entrepreneurship educators struggle with helping students validate their problems. Again, we include a 45-minute lesson plan so educators can quickly put our strategies to use in their classrooms.

Sharing this journey with my students seems to help the learning sink in. After explaining this in class, many approached me with confidence that they had either validated or invalidated their problem hypothesis based on customer interviews. They were thinking about next steps – I suggested to many of them to start a WordPress blog or to develop an Unbounce landing page as a lead generation strategy. It’s a quick and easy next step to validate customer interest.

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