Many startups spend millions convincing people to use products that solve no real, urgent problem.
Others grow effortlessly because they solve something users cannot ignore.
As a founder, product leader, or strategist:
Have you ever pivoted because you realized you were solving the wrong problem?
Answer:
Product leaders and founders must constantly be evaluating and re-evaluating their products to ensure they are solving a real, urgent problem for their target market. This often involves pivoting, or changing the direction of the product, when it becomes clear that the original problem being solved is not as pressing or valuable as initially thought. As a founder, product leader, or strategist, it is important to ask oneself the following questions to determine if a pivot is necessary:
Based on the answers to these questions, a pivot may be necessary to ensure the success and longevity of the product. This could involve changing the target market, altering the product features, or even completely changing the product’s purpose. The key is to always be analyzing market trends and customer feedback to ensure the product is meeting a true need. Pivoting may seem daunting, but it can be a successful strategy in the long run to ensure the product is relevant and valuable to users.
Disclaimer: “This is an AI-generated response from Strivo.ai. For deeper insights and real-world perspectives, refer to the expert opinions below. You can also use the Summary feature to compile AI and expert insights into a structured overview.”
Pivoting because you realized you were solving the wrong problem is one way to look at it. Another is to repurpose the service/product as an ancillary yet indispensable) to an already existing line of product/service in the same or different market. Should suit well for B2B space, tech & AI driven products/services and digital products/services in fintech and healthcare space for e.g. For e.g. disbursing Credit via UPI. Ease of use, quick decision making and secure. - A few thoughts 
@Avlokitas Thats a great perspective. I was reading a book called Hooked today. There it talks about the idea of painkillers vs vitamins. Painkillers solve the real problem whereas vitamins are just good to have. But startup these days i think are vitamins disguised as painkillers. What do you think?
@Arjunvdev your opinion?
There are many startups which have pivoted business models after noticing the consumer behavior including the way consumer was taking utility from it. In fact such founders turn out to be great entrepreneurs as they are practical and less self obsessed about themselves . Examples of such startups are - slack , Groupon and YouTube. A less know fact that YouTube started as a video dating site however people starting uploading all types of videos the founders realising the same changed it to a general video sharing platform
A few maybe. Not all. IMO (humble) there is an urge to build from India >> For Indian or global consumer >> which is something I am deeply proud of, but we still lack that rooted perspective of who we are, we still get influenced or are trying to impress the collars with dollars, and that is reflecting each time a business shuts down. The factors could be many - funding, lack of infrastructure, scale, revenue or anything else. THAT is our weakness. It all distills to either fragmented or misunderstanding of who the consumer is or what actually fuels growth. A lot of startups I notice are missing this. Funded, profiteering or not, is all secondary. Why you are starting and is there a real problem you are solving is the 1st question to ask if you want to build a legacy.
Take the example of Parachute … how focusing on the usability of the bottled format changed their scale forever. Every household has a bottle of some size. Now that also isn’t something we ideally should be proud of because coconut oil (processed or cold pressed) isn’t
a) for all and
b) suitable for all seasons.
But, hey! I grew up (just like most millennials) thinking that it’s the best solution. But it is suitable for certain seasons only. How did that happen? We have targeted solutions and more research now. Founders knew people have different skin, hair and scalp types for a very long time. Just like that ZOHO is another wonderful example of a homegrown gone global. Research is the game. Painkillers and Vitamins both have their timed importance until we turn them into candies.
@Shikhar - the biggest reason for failure of ideas / startups is lack of market need. Understanding the need, knowing what solutions are already available and formulating the best new solution is the key to win new customers.
That’s the reason extensive market research and understanding customer needs become most important step in Product Development.
This is exactly why so many Founders focus on Product Market Fit.