In the world of startups, it’s easy to forget that your initial business model isn’t set in stone. You should be willing to pivot if circumstances demand it, especially when you’re finding it hard to attract new customers. Take WHOOP, for instance. Despite having a loyal user base, acquiring new customers proved to be a significant hurdle. That’s when Ahmed turned his eyes toward what others were doing—in this case, Peloton’s subscription-based model.
Now, why does this resonate with me? Because it’s a lesson in adaptability and ingenuity. We live in a time of fast-paced change and stiff competition. Relying solely on your initial plan isn’t just naive; it can be detrimental to your business.
If something as foundational as your revenue model isn’t working, it’s not a sign to abandon ship but rather to pivot. In my own journey to scale, it’s been crucial to keep an open mind toward rethinking even the basics of how the business operates.
Ahmed’s experience serves as a reminder that your initial idea could be brilliant but still need a change in strategy for sustainable growth. It’s all about finding that unique mix of what you offer and how you make it accessible to your target audience. It’s not failure; it’s fine-tuning. And sometimes, inspiration can come from the most unexpected sources. Keep your eyes open and don’t be afraid to pivot when needed.
Read more at: 🏃 The Untold Story of WHOOP: 7 Lessons For Building a Successful Startup or Business
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