HUSTLE · GROW

Know When To Hold Em, Know When To Fold Em

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Nobody starts a business thinking, Wow, I can’t wait to completely change my entire plan when this doesn’t work. But if you’ve been in the game long enough, you know that’s exactly how it goes.

Most businesses don’t fail because the idea was bad. They fail because the person running it was too damn stubborn to admit when it wasn’t working.

You think Netflix wanted to stop mailing DVDs? You think Instagram’s founders planned on scrapping their entire check-in app just to focus on photo-sharing? Nope. They had an idea, the market said, “Yeah, no,” and instead of going down with the ship, they adapted.

And that’s the difference between businesses that make it and businesses that become a cautionary tale.

The Myth of the Perfect Plan

There’s this ridiculous idea floating around that the best entrepreneurs are visionaries who see the future with crystal clarity and execute flawlessly from day one. That’s adorable. Also, completely untrue.

The reality? Most businesses start with an idea that seems great, only for reality to slap them in the face. Customers don’t behave how you expected, competitors pop up out of nowhere, or the economy decides to take a nosedive. The businesses that make it aren’t the ones that stubbornly cling to the original plan—they’re the ones that know when to shift gears.

Netflix didn’t survive because Reed Hastings knew streaming was the future back in 1997. It survived because when the internet got fast enough and streaming became viable, they didn’t hesitate to ditch DVDs and go all in. The same goes for Slack, Instagram, YouTube, and pretty much every other major company that started as something entirely different.

The lesson? The only thing worse than a bad idea is an entrepreneur who refuses to recognize that it’s a bad idea.

How to Spot When It’s Time to Pivot

There’s a fine line between persistence and just banging your head against the wall. If you’re dealing with any of these, it might be time to rethink things:

1. Customers Are Using Your Product for the “Wrong” Reason

You built an app to track workouts, but people are only using it to log meals? Guess what—your fitness app is actually a nutrition app. Pay attention.

Some of the best pivots happen when businesses realize their customers are telling them what they actually want. Instagram was originally a clunky check-in app called Burbn, but users were mostly using one feature: photo-sharing. The founders scrapped everything else and doubled down on what was working. The result? A billion-dollar company.

2. You’ve Optimized Everything and You’re Still Stuck

You’ve tweaked the marketing, adjusted the pricing, reworked the messaging—everything should be working, but it’s not. At some point, you have to ask: Is the issue my execution, or is it the business itself?

A lot of entrepreneurs waste time trying to perfect something that’s fundamentally flawed. If you’ve done everything right and nothing is changing, the problem isn’t how you’re running the business—it’s the business itself.

3. A Competitor with Unlimited Resources Just Entered the Chat

Let’s say you’ve built a nice little niche business selling sustainable sneakers. Then one day, Nike wakes up and decides they want a piece of the action. They launch a similar product, spend millions on marketing, and suddenly, your “unique” brand is just another option in a crowded space.

If a giant company rolls into your market and undercuts you into oblivion, you have two choices: pivot or prepare for war. And let’s be real, unless you have a few billion dollars lying around, war probably isn’t your best bet.

4. You Constantly Have to Explain Why People Should Care

A good business solves a problem people already have. If you’re out here trying to convince people they need what you’re offering, maybe the real problem is… they don’t.

If you have to keep explaining why your product is valuable, that’s a red flag. The best businesses don’t need a TED Talk to get people interested. If your pitch requires a dissertation, you’re either targeting the wrong audience or selling something nobody actually wants.

How to Pivot Without Burning Everything to the Ground

Bad pivots happen when businesses panic. They throw out everything—including the parts that were working—and end up worse off. A smart pivot is more like a course correction. You’re not scrapping the whole thing, you’re just steering it in the direction that makes the most sense.

1. Follow the Money

Look at where the money is actually coming from. What are people buying? Which services are generating the most revenue? If a particular product or feature is driving most of your sales, that might be your real business.

Amazon started as an online bookstore. It pivoted into selling everything because, surprise, people liked buying things online. The books were just a stepping stone.

2. Test Before You Commit

Don’t make massive changes overnight. Instead, run small experiments. Adjust your pricing model, test a new feature, shift your messaging—see how people respond before you go all in.

Plenty of businesses have tanked because they pivoted too hard, too fast, and lost the customers they did have. Smart pivots happen in stages.

3. Keep What’s Working

Your brand, your loyal customers, the parts of your business that already have traction—don’t ditch those just because you’re changing direction. A pivot should build on your existing strengths, not erase them.

When YouTube started, it was meant to be a video dating site (yes, really). But users weren’t uploading dating videos—they were just sharing random clips. Instead of shutting it down, the founders leaned into what was working and turned it into the video-sharing giant it is today.

4. Move Fast, But Don’t Be Reckless

The best pivots happen quickly, but with strategy. It’s the difference between jumping ship and upgrading to a better one.

If you wait too long, you’ll miss the opportunity. But if you move too fast without a plan, you’ll crash and burn. The trick is to pivot with a strategy, not out of desperation.

The Entrepreneurs Who Win Are the Ones Who Adapt

Here’s the hard truth: Businesses don’t survive on good ideas. They survive on the ability to adapt.

Markets change. Customers change. The world changes. The businesses that make it aren’t the ones that had the “perfect” idea—they’re the ones that evolved when they needed to.

So if things feel stuck, ask yourself: Are you holding on because you truly believe in this, or because you just don’t want to admit it’s time to change course?

The ones who get that right? They’re the ones who actually make it.

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