logo
What Founders Need to Know About Reinventing Their Startups

What Founders Need to Know About Reinventing Their Startups

Entrepreneur15 hours ago
Opinions expressed by Entrepreneur contributors are their own.
Every founder, no matter how skilled or successful, eventually hits a wall. Change will inevitably come: the market shifts, the capital dries up, your product stops resonating or you simply outgrow your original vision. When that moment comes, there is one key differentiator between those who survive and those who spiral, and that is reinvention. Reinvention is more than changing direction; it's the willingness to continually question, adapt and rebuild yourself and your business when the world changes faster than your plans.
I've had to reinvent myself more times than I can count, from traditional banking into blockchain, from smooth VC-backed launches to survival mode, and most recently, to scaling through prominent partnerships as regulatory clarity sweeps through the Web3 space.
There's nothing glamorous about pivoting, but every reinvention has taught me something I wish I'd known five years earlier. Here are five lessons that have shaped my journey, and I believe they can make a difference for other founders facing inflection points of their own.
Related: 7 Powerful Tools for Reinventing You and Your Business
Build for the tough periods
The hardest pivot of my career came in 2022. We were mid-way through a funding round for our investment platform, which was expanding into blockchain infrastructure. Term sheets were lined up, and momentum felt strong. Then the market collapsed. VC sentiment cooled, investors backed out, and the capital we were counting on vanished.
Startups around us began shutting down or retreating. We had every reason to do the same. But instead, we made perhaps the hardest decision of all: We stayed. We restructured our team, narrowed our focus and doubled down on traction over optics. It wasn't glamorous, and growth slowed, but it was the most defining moment of my career. It taught me something I've carried with me ever since: Bull markets reward hype. Bear markets reveal builders.
Conviction is your greatest startup asset
If I had to summarize my entrepreneurial journey in three words, they'd be: conviction, disruption, reinvention.
Conviction means unwavering belief in your vision, even when the outcome is uncertain and the world hasn't caught up. It's what keeps founders moving forward when there are more doubters than supporters. Conviction gets you through uncertainty. Disruption forces you to stay sharp. And reinvention? It's the cost of staying in the game. Founders often think "novel" means "unproven." But when you're building something truly original, whether a tech protocol or a belief system, people won't get it at first. If everyone could already see it, the opportunity would be gone.
When you're out ahead of the narrative, conviction is your only fuel. Use it wisely.
Related: 5 Steps to Successfully Reinvent Your Organization
The right "why" will carry you through any "how"
When we launched Zamanat, a Shariah-compliant DeFi app built on ZIGChain, I wasn't chasing a niche. I was following a deeply personal belief: Ethical finance should be available to everyone, and blockchain, at its best, is about unlocking access for all.
As someone who has used Shariah-compliant financial products myself, I saw the disconnect between traditional Islamic finance and what was being built in Web3. Most solutions were either too generic or compromised on principles. We didn't want to choose between financial innovation and faith-based values. So we built both.
Was it a market opportunity? Absolutely. Was it a personal conviction? Without question. But more than anything, it was a responsibility to create a system that didn't leave people behind.
Discerning "when" to pivot
Too often, founders wait for the numbers to "prove" it's time to pivot. But by then, it's often too late. In my experience, pivots don't start with spreadsheets, but rather with friction within the team. This can look like product decisions that feel forced, direction that takes too many meetings to align and progress that isn't enjoyable anymore. When momentum slows from lack of energy, rather than from lack of effort, that is your signal.
Many of the world's most successful companies only got there because they heeded these subtle signals and made bold changes. For example, Instagram began as Burbn, a complicated check-in and gaming app. When the founders realized adoption was stalling, they zeroed in on the only thing users truly loved: sharing photos. That pivot didn't come from hitting a numbers wall; it came from recognizing where real momentum and excitement lived. The result? Over one billion users and a multi-billion-dollar acquisition by Facebook.
By contrast, when you are still energized with deep belief in your vision, even if the world has not caught up or there isn't much traction, it's a sign you are building something that matters. Trust that signal, too.
Related: How Pivoting Saved My Business When Things Didn't Go According to Plan
Reinvention doesn't mean abandoning your "why" — it means upgrading your "how"
The biggest myth about pivots is thinking they mean failure. In reality, the smartest pivots are rooted in the same mission, just pursued through a smarter strategy, a better vehicle or a more sustainable team.
Every time I've reinvented myself, from finance to blockchain, from founder to venture builder, it's been because I returned to my original "why." But I grew bold enough to admit that the way I was doing it was not working. And that is not failure — it's evolution, and it might just be your superpower.
Startups are a game of stamina, not just speed. Reinvention isn't a detour. For most of us, it's the only way forward. If you're at a crossroads, unsure whether to pivot, pause or push ahead, know this: You don't need a new pitch deck. You need to return to your original purpose and find the best new path to deliver on it. Real builders are not afraid to reinvent, not because they failed, but because they have grown.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

UK, Own Your Success
UK, Own Your Success

Forbes

time28 minutes ago

  • Forbes

UK, Own Your Success

By Dr John Mullins, Associate Professor of Management Practice in Marketing and Entrepreneurship, London Business School I was drawn to Britain at the turn of the millennium because it was bristling with entrepreneurial promise. From biotech to branding, from Camden to Cambridge, this country was once the envy of Europe for its start-up spirit. I'd built businesses before I taught the subject - some succeeded, one failed - but I never doubted my courage, creativity, or nous. I'm an American, and we celebrate business endeavour - winners and losers alike. Today, I'm less certain about Britain. Not about the talent - brilliance still abounds - but about the pervasive melancholy streak Camilla Cavendish rightly identified in her recent Financial Times column, 'Britain needs to unleash the spirit of entrepreneurship.' That nagging belief that the country's best days are behind it has grown louder. Britain remains a crucible of scientific and creative genius, but too often fails to turn that genius into scaled businesses and enduring prosperity. At London Business School, I meet brilliant minds every week - many from abroad - who still look to Britain as a launchpad. Yet the scaffolding that once made the country fertile ground for high-growth ventures is rusting. Regulatory burdens pile up. Risk aversion has been enshrined in policy. And a stubborn cultural allergy to ambition persists - a hangover from the C.P. Snow era referred to by Cavendish, when the literary elite snubbed the scientist and, by extension, the entrepreneur. The Times recently put it bluntly: despite world-class financial and academic infrastructure, UK entrepreneurs are starved of growth-stage funding. Traditional institutions avoid risk. Pension funds barely touch high-growth private equity. The result? Innovation stalls in the so-called 'valley of death' - that dangerous gap between academic discovery and commercial viability. Meanwhile, the world isn't waiting. Poland, with its ravaged 20th-century history, is setting economic agendas in parts of Europe. South Korea built a tech juggernaut in one generation. And the US - where professors wear patent filings like medals - continues to surge ahead precisely because risk is celebrated, not pathologised. Britain invented the Industrial Revolution and gave the world Isambard Kingdom Brunel, Ada Lovelace, Tim Berners-Lee. Even Stephen Hawking, who understood black holes better than most understand balance sheets, knew that collaboration between thinking and doing is where magic happens. And yet today, too many UK start-ups hit a wall at scale. When an American titan like Larry Ellison spots promise in Oxford and invests £100mn, it should be a wake-up call. If Ellison believes in the UK, why don't more British investors? Britain's COVID-19 response proved it can move fast. Scientists sequenced the virus in days, vaccines rolled out with breathtaking speed, and treatments saved millions. That wasn't bureaucracy - that was British grit, intellect, and agility unleashed. But in peacetime, the nation often retreats into suspicion: frowning on success, moaning about profit, and wrapping ambition in red tape. DeepMind's founders had to sell to Google to grow. Data centres are penalised with high energy costs. Industrial strategies are promised, then undermined. This isn't just bad economics. It's a cultural betrayal. The UK must teach its children - and remind its adults - that entrepreneurship is not a fallback plan; it is a noble calling. Honour not only those who publish papers, but those who build, sell, risk, and employ. Celebrate not just Dyson, but the next hundred Dysons-in-waiting. And yes, reward failure as the tuition fee for success. Britain needs to stop being so terribly British about ambition. Self-deprecation may be charming after dinner, but it is fatal to scale. The country still has the brains. What it needs now is the courage - and the capital - to build again. An award-winning teacher and scholar and one of the world's foremost thought leaders in entrepreneurship, John Mullins brings to his teaching and research 20 years of executive experience in high-growth retailing firms, including two ventures he founded and one he took public. He is the author of several best-selling books with his most recent, Break the Rules! The Six Counter-Conventional Mindsets of Entrepreneurs that Can Help Anyone Change the World, delving into the mindsets that enable world-class entrepreneurs to challenge assumptions, overcome obstacles, mitigate risk, and sometimes change the world.

How vacant marketing roles are costing businesses billions
How vacant marketing roles are costing businesses billions

Yahoo

time42 minutes ago

  • Yahoo

How vacant marketing roles are costing businesses billions

How vacant marketing roles are costing businesses billions The modern economy runs on digital presence. From brand awareness to direct sales, marketing is the engine driving growth for countless businesses. Yet, an often-overlooked threat is quietly undermining this vital function: the prolonged vacancy of key digital marketing roles. These vacancies aren't just human resources headaches; they are silent growth killers, with financial tolls compounding daily, impacting everything from revenue pipelines to team morale. Every week, a critical marketing position remains unfilled, and businesses are hemorrhaging potential revenue. While the exact figures vary by industry and company size, conservative estimates paint a stark picture. Consider a Paid Search Specialist role sitting vacant: Companies could be losing an estimated $2,500 to $5,000 per week in lost ROI. This stems directly from unoptimized ad spend, missed conversion opportunities, and a failure to capitalize on high-intent customer searches. Multiply that by weeks or even months, and the financial damage becomes staggering. The impact extends far beyond paid media. A missing SEO Manager can lead to a steady decline in organic search rankings, missed opportunities for valuable website traffic, and a failure to capture leads that prefer organic discovery. This can translate to an estimated $2,000 to $4,000 per week in forgone organic revenue potential. Similarly, a vacant Content Strategist can stall content pipelines, delaying the creation of vital thought leadership, lead-nurturing materials, and sales-enabling assets. The cost here, though harder to quantify directly, is significant in terms of lost brand visibility, diminished lead generation, and weakened customer engagement, potentially costing $1,500 to $3,500 weekly in missed opportunities, Digital Marketing Recruiters reports. Beyond the Numbers: Compounding Consequences The financial bleeding from individual roles is only part of the story. Prolonged vacancies create a ripple effect across the entire organization: Stalled campaigns and lost momentum: Digital marketing thrives on agility and continuous optimization. When a critical role is empty, campaigns can stagnate, new initiatives are delayed, and competitive advantages are surrendered. A recent report by the Bureau of Labor Statistics indicates that job openings remain high across many sectors, reflecting a persistent challenge for businesses to staff up effectively. This translates directly to missed market opportunities. Slowed pipeline velocity: Marketing is the engine of the sales pipeline. Delays in lead generation, qualification, and nurturing due to understaffing directly impact the sales team's ability to hit targets. However, research from HubSpot determined that businesses with strong marketing-sales alignment can increase revenue by 208%. Gaps in marketing make this alignment nearly impossible to achieve. Burdened and burned-out teams: Existing team members are often forced to absorb the responsibilities of vacant roles. This leads to increased workload, stress, and potential burnout, which can further exacerbate retention problems and diminish overall team productivity. A 2024 survey by Gallup showed that employee engagement significantly drops when employees feel overworked and undervalued, creating a vicious cycle of talent drain. Diminished brand reputation: Inconsistent messaging, slow responses on social media, or a lack of fresh, engaging content can erode brand trust and perception. In today's hyper-connected world, a brand's digital presence is often its first and most lasting impression. A Strategic Imperative The current talent landscape, characterized by fierce competition for skilled digital marketers and a dynamic digital ecosystem, makes these vacancies even more critical. Businesses can no longer afford to view an open marketing role as merely an administrative detail. It is a strategic gap that directly threatens growth objectives. The cost of inaction isn't just about the salary of a new hire; it's about the quantifiable losses in revenue, market share, and team productivity. For business leaders navigating demanding growth targets and persistent talent shortages, addressing these gaps swiftly and strategically is not just good practice—it's an economic imperative. The longer the wait, the steeper the price. This story was produced by Digital Marketing Recruiters and reviewed and distributed by Stacker. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store