Before jumping feet-first into a new idea, ask yourself:
🚦 Desirability: Do customers want it?
🚧 Feasibility: Can we build it?
💸 Viability: Does it make financial sense?
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⏳Adaptability: How does it fit into your current model?
#innovation#testing
To optimize the search and testing phases of innovation, you need to measure:
🚦 Desirability: Do customers want it?
🚧 Feasibility: Can we build it?
💸 Viability: Does it make financial sense?
+
⏳Adaptability: How does it fit into your current model?
#innovation#testing
When you're exploring ideas, uncertainty and risk are at their highest. Therefore:
1. 💼 Don't waste time on a business plan
2. 👷 Start testing the riskiest assumptions first
3. 🚣 Go cheap & fast
4. 🔩 Optimize experiments
5. 🚦 Build only when you know 1-4
RT if you agree!
“Learn all your life. Learn from your failures. Learn from your successes, When you hit a spell of trouble, ask ‘What is it trying to teach me?’” —John W Gardner https://t.co/kYrTn4HxJ9
In business-to-business (B2B) we frequently see clients mapping out the companies they serve as customer profiles. That’s wrong. When you sell to a company, you sell to people. https://t.co/jWT9G1TldC
As an innovator & entrepreneur your #1 task is to reduce the risk and uncertainty of new business ideas before you invest big and scale. https://t.co/sEHSoKSQI8