Ralph Ohr revisits the key issues today in innovation management.
When we have a great new idea, we want to move fast with it. But we also want impact, and to get that, we need to make sure that we don’t accelerate before we’ve gotten the idea nailed first.
When starting a lean startup process, our first hypotheses are often too precise. When we’re in discovery mode, we actually need to have pretty vague hypotheses to start – here’s how to build them.
If we wait for something to be perfect before we launch it, we’ll never launch.
The best way to think of a Minimum Viable Product is as an object for learning. Here’s an example of a great one, along with resources to help you build your own.
Every time we build a business model for a new idea, it is based on many different assumptions. To increase our chances of success, we need to test these assumptions systematically.
If you’re doing a lean startup, you need to do two things. Identify the potential users in your market that are currently experiencing the most pain, and start with them. Once you’ve identified this first niche, then you can plan your expansion route.
Most new ventures fail because they don’t have enough customers. Unfortunately, entrepreneurs often fail to address this problem, and focus more on getting the product right first. This is a mistake. Lean Startup tools can help you avoid this mistake.
Part 1 in a series reflecting on what we’ve learned after doing a bunch of lean startup work over the past year. First issue – how to use customer development interviews to build a business model.
When you’re attacking a large competitor, you can’t go at them head-on if you’re just starting out. The best way to win is to innovate your business model.
I’ve seen a lot of startup pitches recently, and it seems like founders are obsessed with features. I don’t care about your features. Tell me how you’re going to create value instead. Here is how to think about that.
About 20% of firms based their pricing on real data from their customers. This is mind-boggling – and it present a huge opportunity. Business model innovation is challenging, but that’s why it provides such a great opportunity.