▁P ivot ing ▁involves ▁recogn izing ▁that ▁the ▁original ▁business ▁model ▁is ▁not ▁working , ▁then ▁dec iding ▁what ▁changes ▁to ▁make ▁and ▁taking ▁action ▁on ▁those ▁changes . ▁This ▁process ▁is ▁easier ▁to ▁visual ize ▁when ▁the ▁business ▁model ▁is ▁drawn ▁out . ▁▁ ▁While ▁iter ating ▁involves ▁small ▁changes ▁like ▁alter ing ▁a ▁product ▁price , ▁pivot ing ▁involves ▁substantial ▁changes ▁like ▁ident ifying ▁a ▁better ▁target ▁market . ▁The ▁process ▁involves ▁four ▁steps : ▁ ▁Ob serve : ▁Ob ser ving ▁that ▁the ▁business ▁model ▁isn ' t ▁working . ▁▁ ▁Orient : ▁Orient ing ▁to ▁the ▁new ▁facts . ▁▁ ▁De cide : ▁Dec iding ▁what ▁to ▁change ▁in ▁the ▁business ▁model . ▁▁ ▁Act : ▁Act ing ▁decis ively ▁to ▁make ▁the ▁change . ▁ ▁There ▁are ▁several ▁examples ▁of ▁successful ▁companies ▁that ▁p iv oted ▁early ▁on , ▁including ▁Gr ou pon , ▁which ▁fam ously ▁p iv oted ▁from ▁a ▁failed ▁social ▁advoc acy ▁campaign ▁into ▁a ▁billion ▁doll ar ▁daily ▁deal ▁site , ▁and ▁Fab . com , ▁which ▁p iv oted ▁from ▁a ▁social ▁network ▁to ▁a ▁daily ▁deal ▁design ▁site . ▁Inst agram ▁p iv oted ▁from ▁a ▁mobile ▁micro blog ging ▁platform ▁into ▁a ▁photo ▁application . ▁ ▁References ▁ ▁Category : Bus iness ▁models <0x0A> </s> ▁In ▁en zym ology , ▁a ▁gl ut am ate ▁ 1 - kin ase ▁() ▁is ▁an ▁en zym e ▁that ▁catal y zes ▁the ▁chemical ▁reaction ▁ ▁ATP ▁+ ▁L - gl ut