WEBVTT - How to pivot a startup gracefully - Oladosu Teyibo

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<v Speaker 1>There was another code I read from you, um, and

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<v Speaker 1>you said this, You said, the most important thing about

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<v Speaker 1>building a business is to be the last one standing. Um.

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<v Speaker 1>The right way to do that is to constantly innovate

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<v Speaker 1>and unquote now, And I wonder about that statement, because

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<v Speaker 1>you know, one thing I think about when building businesses.

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<v Speaker 1>I'm not romantic about business like, if the thing is working,

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<v Speaker 1>is working. If it's not, I do something else. And

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<v Speaker 1>so I wonder what your thoughts are on how you

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<v Speaker 1>might have had to pivot and if pivoting is something

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<v Speaker 1>that you embrace, if that's what the market says, or

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<v Speaker 1>you just so passionate about doing this thing that you're gonna,

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<v Speaker 1>you know, figure a way out to make the thing work,

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<v Speaker 1>even though you may be facing insurmountable you know, wind pressure. Yeah. One,

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<v Speaker 1>I appreciate you for doing all this research. That's great.

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<v Speaker 1>Uh uh that that's exactly right. And the reason why

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<v Speaker 1>I mentioned a lot of of why we do recruiting,

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<v Speaker 1>that's not what we set out to do. We set

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<v Speaker 1>out mainly for development. We set out um to hired

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<v Speaker 1>software developers. But as I mentioned, early software developments and

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<v Speaker 1>intellectual property, so people actually don't like to outsource that offense.

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<v Speaker 1>So even when we have some projects in that category,

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<v Speaker 1>that's not everyone's favorite thing to do, everyone wants to

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<v Speaker 1>bring it in house. They don't even actually want to

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<v Speaker 1>go to India anymore. They wanted on shore right here

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<v Speaker 1>in the US. And so we learned that and during

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<v Speaker 1>the pandemic we realized, and after the pandemic, when we

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<v Speaker 1>were coming out of it, there was an uptake and hiring,

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<v Speaker 1>and we realized that recruiting was actually this niche area

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<v Speaker 1>in which people don't care where you are, where you're

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<v Speaker 1>recruiting from. They really just care can you get us

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<v Speaker 1>great talent? And if if I can get you, if

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<v Speaker 1>you're a startup in Silicon Valley and I can find

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<v Speaker 1>you someone in Silicon Valley and get you get them

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<v Speaker 1>into your company, I don't care where you are, right,

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<v Speaker 1>I just need you to help me connect me with

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<v Speaker 1>great talent. And so that's actually why we pivoted, and

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<v Speaker 1>majority of our projects and contracts are actually in recruiting

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<v Speaker 1>because that's where we found that the market would actually

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<v Speaker 1>scept us and and except um and so we what

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<v Speaker 1>we did was actually retrained. As I mentioned, we retrained

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<v Speaker 1>a lot of our engineers in recruiting. And so we

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<v Speaker 1>take that that really great understanding of tech, technology and

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<v Speaker 1>tech and that diligence of you know, being very technical,

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<v Speaker 1>and changed it and we're applied it to recruiting and

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<v Speaker 1>we found phenomenal success here. I mean, we've worked with

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<v Speaker 1>some of you know, top fortunate companies, some of the

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<v Speaker 1>top four tech companies. We've worked with, you may know

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<v Speaker 1>the fastest growing UM social media's, we've worked with, fintech companies,

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<v Speaker 1>we've worked with So we've been able to find that

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<v Speaker 1>that niche and recruiting, which was a major pivot for

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<v Speaker 1>us UM. You know, it was hard for us because

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<v Speaker 1>we loved the engineering, we love the hard core tech,

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<v Speaker 1>we love building products. But we found that the market

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<v Speaker 1>accepts us in a different regard, and when it wasn't

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<v Speaker 1>working to the degree we expected, we change course.