I recently attended a Lean Startup Machine workshop and have since been taken with the term pivot.
LSM invites anyone to join for a weekend to learn Eric Ries' approach to developing a business, and more specifically, the product that stands up the business. As Tim said, the approach revolves (heh) around testing hypotheses in rapid learning cycles (who is my customer? what problem do they have?). After each cycle, you pivot, or reframe your hypotheses based off what you've learned.
Pivot. To turn and shift direction. It's the perfect way to describe the dance that is innovation. Do you know any ventures that pivoted?