Pivoting or persevering with venture ideas: Recalibrating temporal commitments
The authors show how entrepreneurs recalibrated the existing temporal and relational commitments they had made to accommodate the problems and possibilities they encountered. Understanding such recalibration is important, as it influences how entrepreneurs will act when they encounter unexpected events.
To persevere, they positioned their actions as a continuation of the past, thus maintaining earlier commitments while typically extending the temporal length (e.g., postponing committed milestones). To pivot, the entrepreneurs repositioned their actions on a revised timeline. They reframed commitments from the past to make it fit with a new projected future. At the same time, they decreased the temporal length of actions and milestones (promising results in the near future).
