Michael Ferrari of Social Money joined us last week for our BIZ Networking Luncheon. The entire talk was outstanding with some of the highest feedback ratings ever. One particular quote I remember is a quote he attributes to Dave McClure, a Silicon Valley Entrepreneur and Investor.
"What pivot doesn't mean is abandon your idea or vision. What it does mean is change your business model."
Business Model Vs. Product
This is something all entrepreneurs need to understand. Your product and your business model are not one and the same. You need to find the right business model for your product. Or, like Michael, sometimes those new business models come looking for you.
Check out the videobelow:
Square One DSM, an initiative of the Greater Des Moines Partnership, is formerly known as Business Innovation Zone (BIZ).