Harvard Case - Triangulate: Stay, Pivot or Exit?
"Triangulate: Stay, Pivot or Exit?" Harvard business case study is written by Thomas R. Eisenmann, Shikhar Ghosh, Christopher Payton. It deals with the challenges in the field of Entrepreneurship. The case study is 29 page(s) long and it was first published on : Oct 20, 2016
At Fern Fort University, we recommend that Triangulate pivot its business model to focus on providing a comprehensive platform for entrepreneurial education and resources. This pivot will leverage Triangulate?s existing strengths in technology and analytics, while expanding its reach to a broader audience of aspiring entrepreneurs and established businesses.
2. Background
Triangulate is a startup founded by three entrepreneurs with a shared passion for empowering entrepreneurs. Initially, they focused on building a platform that connected entrepreneurs with investors, mentors, and resources. However, after three years of operation, the company faces significant challenges:
- Limited traction: While Triangulate has attracted a sizable user base, it has struggled to generate significant revenue.
- Competitive landscape: The market for entrepreneurial resources is crowded with established players and new entrants, making it difficult for Triangulate to differentiate itself.
- Financial constraints: Triangulate is facing financial pressure due to its slow growth and the need for continuous investment in product development and marketing.
The case study presents the founders with three options: staying the course, pivoting, or exiting.
3. Analysis of the Case Study
Porter?s Five Forces Analysis:
- Threat of New Entrants: High - The entrepreneurial resource market is attractive to new entrants due to low barriers to entry and the availability of readily accessible technology.
- Bargaining Power of Buyers: Moderate - Entrepreneurs have multiple options for accessing resources, but a strong platform like Triangulate can offer valuable benefits.
- Bargaining Power of Suppliers: Low - Suppliers of resources are numerous and fragmented, giving Triangulate leverage in negotiation.
- Threat of Substitutes: High - Numerous alternative platforms and resources exist, including online forums, accelerators, and government programs.
- Competitive Rivalry: High - The market is fiercely competitive, with established players like LinkedIn and AngelList vying for market share.
SWOT Analysis:
Strengths:
- Strong team: The founders possess a strong entrepreneurial background and expertise in technology and analytics.
- Existing platform: Triangulate has a functional platform with a user base, providing a foundation for growth.
- Data-driven approach: The company leverages data and analytics to understand user needs and improve its offerings.
Weaknesses:
- Limited revenue: Triangulate has struggled to generate substantial revenue, impacting its financial sustainability.
- Lack of differentiation: The platform lacks a clear competitive advantage in a crowded marketplace.
- Slow growth: User acquisition and engagement have been slower than anticipated.
Opportunities:
- Growing entrepreneurial ecosystem: The global entrepreneurial ecosystem is expanding rapidly, creating a large potential market for Triangulate?s services.
- Shift towards online learning: The increasing popularity of online learning presents an opportunity for Triangulate to offer educational resources.
- Focus on specific niches: Targeting specific entrepreneurial segments, such as women entrepreneurs or social enterprises, can enhance differentiation.
Threats:
- Competition from established players: Existing platforms with significant resources pose a significant threat to Triangulate?s growth.
- Changing market dynamics: The entrepreneurial landscape is constantly evolving, requiring Triangulate to adapt quickly to new trends.
- Economic downturn: A downturn in the economy could negatively impact entrepreneurial activity and reduce demand for Triangulate?s services.
4. Recommendations
Pivot to an Entrepreneurial Education Platform:
- Offer comprehensive online courses and resources: Develop a curated library of courses, workshops, and articles covering various aspects of entrepreneurship, from business planning to marketing and fundraising.
- Leverage existing data and analytics: Use data to personalize learning experiences, recommend relevant resources, and track user progress.
- Build a community of entrepreneurs: Create a platform for entrepreneurs to connect, collaborate, and learn from each other.
- Partner with universities and accelerators: Collaborate with educational institutions and accelerators to provide access to their resources and expertise.
- Develop a tiered pricing model: Offer free basic access with premium features available through paid subscriptions.
Implementation Timeline:
- Months 1-3: Develop a comprehensive business plan for the new platform, including target audience, revenue model, and marketing strategy.
- Months 4-6: Refine the existing platform to incorporate educational resources and community features.
- Months 7-9: Launch the new platform and begin acquiring users through targeted marketing campaigns.
- Months 10-12: Monitor user engagement and feedback, iteratively improve the platform based on data insights.
5. Basis of Recommendations
This recommendation aligns with Triangulate?s core competencies in technology and analytics, allowing them to leverage their existing strengths. It also addresses the key challenges of limited traction and competition by offering a unique value proposition focused on entrepreneurial education. The platform?s scalability and potential for recurring revenue through subscriptions make it financially attractive.
Assumptions:
- The demand for online entrepreneurial education is significant and growing.
- Triangulate can successfully develop and market a compelling educational platform.
- Partnerships with educational institutions and accelerators will be mutually beneficial.
6. Conclusion
By pivoting to an entrepreneurial education platform, Triangulate can capitalize on the growing demand for online learning and establish a strong position in a rapidly expanding market. This strategy leverages the company?s existing strengths, addresses its weaknesses, and creates opportunities for sustainable growth.
7. Discussion
Alternative Options:
- Staying the course: This option carries significant risk due to the competitive landscape and limited traction.
- Exiting: While this option offers a quick resolution, it would mean abandoning the company?s vision and potentially losing valuable intellectual property.
Risks:
- Execution risk: Successfully developing and marketing a new platform requires significant effort and resources.
- Competition: The market for online education is becoming increasingly competitive, requiring Triangulate to differentiate itself effectively.
- User adoption: Attracting a large user base and achieving high engagement levels is crucial for the platform?s success.
Key Assumptions:
- The assumption of a significant and growing demand for online entrepreneurial education is crucial to the success of the pivot.
- The assumption that Triangulate can effectively develop and market a compelling educational platform is also critical.
8. Next Steps
- Develop a detailed business plan: Define the target audience, revenue model, marketing strategy, and key performance indicators for the new platform.
- Secure funding: Seek funding from venture capitalists, angel investors, or crowdfunding platforms to support the development and launch of the platform.
- Build a strong team: Hire experienced individuals with expertise in online education, marketing, and community management.
- Develop a robust marketing strategy: Target potential users through online advertising, social media marketing, and partnerships with relevant organizations.
- Continuously iterate and improve the platform: Monitor user feedback, analyze data, and make adjustments to the platform based on insights.
By taking these steps, Triangulate can successfully pivot to an entrepreneurial education platform and achieve sustainable growth in the rapidly evolving entrepreneurial ecosystem.
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