The term “pivot” has gained aura and prominence, in large measure due to its place in Eric Ries’ “lean start-up” method. Eric outlines some of his thinking in the video linked below. The key point is: investors and entrepreneurs both need to do a mental pivot to a fresh perspective on the company, and not get trapped by inertia. Big/late pivots are a new commitment. Go ahead if you believe strongly in the vision and the team. Otherwise it’s time to take your lumps.