Mayo615's French Odyssey Week 30 - Pivoting
Channel: Mayo615
Date: 2019-11-05

Hello! 
Welcome to the Week 30 Update of Mayo615’s French Odyssey and how to transform Big Ideas into Big Realities. Why do so many startups fail? The single biggest reason is inadequate focus and research into the market. Most successful companies carefully monitor business indicators and are prepared to quickly pivot and modify their business model if it’s not working. It’s a case of the quick and the dead. 
Google struggled through four business models until it finally succeeded with algorithmic advertising. Facebook literally had millions of users but no business model until it decided to sell personal data. Now Facebook needs to pivot again. Libor will not be an option. If possible, stay close to your customer, listen, and monitor your key business indicators: revenue, gross margin, operating cost, cash flow, and investment capital, commonly called your “burn rate.” If any of these are not where they need to be, you must pivot to correct it, or face going out of business. Slavishly following your original model believing it “just needs more time to succeed,” is a recipe for disaster. 
I have added an Entrepreneur Resources playlist to this YouTube Channel, and remember the 400 plus posts on my blog, mayo615.com.
That’s my management and technology update for this week. We look forward to your comments and questions. We will respond to all comments and questions and may feature comments in our update videos. If you like what you see here, recommend us to others and lick here now to SUBSCRIBE