In business terms, to pivot is for a business to initially head in one direction for a particular product of service, then to totally divert its core direction to another particular product or service.

A good example of this would be Game Neverending; a financial failure of a game, it's pivot was its refocus of a Game Neverending feature which ended up being the base of what we know as Flickr. Former co-owner of Flickr; Stewart Butterfield, continued to persist with Game Neverending with it again pivoting during game development. This time the management tool which helped organize his Game Neverending team turned into Slack; a highly acclaimed, silicon valley office using team management platform.