Wrap up of the week:
Pivoting: 7 lessons on pivoting a startup

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We heard from founders who have faced the challenges and opportunities of pivoting their business during Covid-19.

How three startups have pivoted successfully during Covid-19

Many businesses have had to re-examine their strategy over the Covid-19 crisis, some out of financial necessity. Here, three startups in the Eagle Labs and Rise networks tell us about how they have adapted during the crisis – and we address the four different types of pivot.

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The challenges and opportunities of pivoting a business

Mehdi Doghri is the cofounder of Save Your Wardrobe, an app that aims to make consumers aware of their purchase behaviour and prompt sustainable habits. His business pivoted from an early iteration that focused on in-person consultation to the digital product it is now. Here, he describes the challenges and opportunities that founders might face as they pivot their strategy.

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Is it pivot or perish for the legal industry?

Chris Grant, LawTech Director at Barclays Eagle Labs, addresses the need for the legal industry to pivot. The Covid-19 crisis has accelerated the long-awaited change in many firms and, as Grant says, this kind of progress should be embraced in future. But what will this mean for startups looking for investment or partnership from the big firms? 

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Angus Abbott: experience of pivoting

Angus Abbott is the cofounder of a startup that has successfully pivoted in 2019 into a management and visualisation tool for real estate digital assets. Last year’s pivot came after feedback from customers and in this video, Angus discusses the challenges he and his cofounders faced as they changed course.

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How a digital healthcare startup pivoted and is emerging from lockdown stronger than ever

ElectronRx, a digital medicine startup based in Cambridge, faced significant challenges as the Covid-19 crisis hit. Product development was made nearly impossible as medical trials were put on hold. However, the crisis turned into a partnership opportunity and prompted a new direction for the company’s product.

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Don’t pivot for the sake of it – Joe White

Joe White, cofounder of Moonfruit and General Partner of Entrepreneur First, explains why pivoting isn’t always the answer. In his view, founders shouldn’t necessarily act hastily even if experiencing low demand during the Covid-19 pandemic.

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Turning a business around in a crisis

Konrad Sanders, cofounder of The Creative Copywriter, helped to steer his business in a new direction through the crisis and produced a brand-new digital service. Here, he explains his own experience and offers his advice on key market research before making a strategic change.

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