How do you adapt and pivot your idea based on feedback and changing needs?

The biggest issue we face when trying to communicate anything is making assumptions about our audience and not learning about our audience. It is imperative when it comes to pitching to know what matters to your audience and how they receive information. Often, we use jargon and bulky decks to share our message, but what if that isn’t the best way your target customer receives information? We assume every person should fit into how we think we should pitch, (ie a deck, setting up a phone call, sending an email, etc) but we shouldn’t force our prospective partners into our systems, we should develop systems of communicating our pitch with our customers in mind.

Listen Actively: Pay attention to the feedback and insights provided by your audience, including customers, stakeholders, and users. Actively listen to understand their needs, preferences, and pain points. Engage in Dialogue: Foster open communication channels with your audience. Encourage them to share their experiences, suggestions, and concerns related to your idea.

One thing I have found helpful in pitching is to consider a single solution may not always be the answer; often times there is more than one solution, or a subtle variation in how you approach the solution that will make all the difference in your pitch. When you know your audience well and their problem space, combining that knowledge with how you have solved similar problems for other clients in different ways, provides more opportunity for your potential client, partner, investor to imagine and identify with your future partnership together.

Refine Problem Definition: Based on feedback, refine your understanding of the problem you are solving. Ensure that your solution addresses the most pressing and relevant issues identified by your audience. Iterate Solution: Adjust your solution to better align with the refined problem definition. This may involve adding features, modifying functionalities, or even changing the core approach based on feedback.

Clarify Unique Value: Clearly articulate the unique value proposition of your idea. Ensure that your solution stands out in addressing the identified problem, providing distinct advantages over alternatives. Connect with Audience Needs: Align your value proposition with the specific needs and preferences of your target audience. Demonstrate how your idea directly addresses their pain points.

Identify the signs and factors that indicate a need for change, such as customer feedback, market trends, or cash flow issues. Pick new goals that align with your vision and mission, and that present opportunities for growth and innovation. Develop a pivot plan that outlines the changes in your business model, product, or target market, and how you will measure the results. Communicate the pivot to your team, customers, and stakeholders, and explain the rationale and benefits behind it. Monitor and revise your pivot based on the feedback and data you collect, and be ready to adapt again if needed.

Emphasize Expertise: Highlight the expertise and capabilities of your team. Showcase how their skills and experiences position your venture to adapt and respond effectively to changing needs. Demonstrate Traction: Provide evidence of your venture's traction, such as user adoption, positive testimonials, or key partnerships. Traction serves as validation and builds confidence in your ability to adapt successfully.

To tell a compelling story, focus on one person or group of people who have been transformed by your solution. But don't just say, 'These people now have better lives!" Show details with words. Stir the audience's imagination by transporting them into the story to see and taste and hear the change that has happened to this person by using your solution. Paint a picture that they cannot get out of their minds.

Narrative Alignment: Ensure that your narrative aligns with the feedback received and the changes made to your idea. Craft a compelling story that communicates the evolution of your venture based on real-world insights. Emotional Connection: Connect emotionally with your audience by sharing the journey of adapting your idea. Highlight the passion, dedication, and learning that have shaped your venture.

Specify Action Steps: Clearly communicate the desired action steps you want your audience to take. Whether it's providing additional feedback, testing a new feature, or supporting a crowdfunding campaign, make your ask explicit. Encourage Participation: Invite your audience to be part of the ongoing development process. Engage them in co-creation, beta testing, or collaborative initiatives that involve their input.