Pivoting
is changing direction with one foot firmly planted. The idea is that you don't
lose sight of your basic business objectives but you are prepared to pivot in
order to examine new opportunities that may lead to more success. So a pivot is
a natural extension of your business not a completely new venture.
An
example might be a clothing manufacturer/retailer who sets up a party plan
operation or on a more general level a trader who launches an online presence
as an adjunct to their market stall.
Pivoting
is about stepping out of your comfort zone, and trying new directions without
abandoning your basic business model.