Can you please help me understand the real meaning of "pivot". As you said nowadays everybody is using that term for very different things. What does pivoting mean, why people are misusing it, any case studies that i can read? Thanks!
Intended use: "We were working on a time tracking application for freelance designers, and pivoted to making it for lawyers instead."
There are lots of kinds of pivots (customer segment, platform, channel, value capture, engine of growth etc) - in essence, it's about taking what you've learned so far, and using that knowledge to tweak your approach to solving the problem you're working on.
Eric Ries' 'The Lean Startup' is the canonical reference for this stuff.