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3 Rules for Making a Successful Pivot

July 6, 2014

Entrepreneur.com features an article by Avishai Abrahami, Wix Co-Founder and CEO, where he talks about companies’ ability to adapt, to “pivot” and how crucial it is for those operating in the dynamic space of the internet.

Excerpt:

“Pivoting is the art of recognizing that the pursuit of a specific idea, direction or product – in which you’ve invested significant time, money and energy – is no longer the correct path to follow.

I know that place. When we founded Wix, Flash was the best option to provide our users with a tool to create stunning websites themselves. And millions did. By now, the troubled history Flash had as a result of the growth of smartphones and mobile devices is well known. A little over two years ago Wix.com stood at a crossroads and was forced to choose between a well-worn path and an entirely new direction…”