Pivoting while innovating - Lorraine Marchand

Lorraine Marchand

Lorraine Marchand, author of ‘The Innovation Mindset’ is an expert in life sciences and a master of cultivating successful innovation. She guides innovators in forming relationships with investors and communicating the significance of their innovations. Lorraine recently sat down with serial entrepreneur Aris Persidis to discuss how important it is to pivot during innovation.

Lorraine and Aris dive into the contrast between innovating as an entrepreneur and innovating in the setting of a large organization. Aris, having been in both situations, draws a comparative analysis between the two.

Aris and Lorraine dwell on the importance of the voice of the customer — knowing what they want and catering to their needs. They discuss how innovation does not take place sitting in a room, instead, by going out and talking to at least 100 customers. This is an aspect Lorraine speaks of in her upcoming book as well.

They also discuss the importance of pivoting whilst innovating. Pivot in this context refers to a change in strategy without compromising one’s vision. This is important during innovation as one must be willing to change what they are doing to align with customer responses. This kind of pivot is a necessary course correction.

Aris and Lorraine close the conversation by discussing strategic pivoting and the importance of bringing something to the market that has commercial viability.

--

--

--

Insights from Leaders is a platform where people with a vision can share their ideas and insights.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Peeves side of Investment

Why I Started A Drop Shipping Business

Why Lean Startup Doesn’t Always Work in Corporates as it Does in Startups

How to Build a Minimum Viable Product

5 steps to bring your entrepreneurship idea to life

A Simple and Easy Virtual Fundraising Event

HR Innovate teams up with Mojo Digital

WHAT TO LEARN FROM STARTUPS

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Insights from Leaders

Insights from Leaders

Insights from Leaders is a platform where people with a vision can share their ideas and insights.

More from Medium

Skiing — St Anton, Austria — An afternoon in Zurich — March 2014

Relaxing on a spring day in Zurich

My Daily Routine

Convenience, opportunities, barriers and other factors that prevent repeat blood donations

Harvey Birdman: Attorney at Law 1, B+