In the first few weeks of the stay at home orders across the country, I spoke with a number of co-founders and executives who decided to make a pivot to solve very unique problems during the pandemic. Each proposed solution sounded very viable and each leader had big visions of what solving the problem would mean for their business and for humanity.
I checked in with each of them around mid-June (about 3 months later) and each one of their pivots turned out to be a failure. Failure because they scaled sales & marketing investments before product/market fit (PMF) was strong enough. They got excited about the first customer wins, the size of the market, inbound inquiries, and other key performance indicators so they doubled-down.
They thought they had product/market fit, and that might have been true. . .to an extent.
So I decided to write about this phenomenon.