Wednesday, April 1, 2015
Physics of Business Growth: Post #5--Learning Launches
Identifying New Idea and Learning Launches: “Creativity is a team sport.” The two stages of creativity are discovery and development. Contact with customers is critical. To create ideas use: Challenging, connecting, visualizing, collaborating, improvising, reframing, and playing. Idea generation math: 1,000 ideas, to 100 experiments, to 10 initiatives that produce one or two successes! Experiment only on high potential ideas that create value, can be executed well by the company, are defendable from competitors and are scalable. A learning launch is a low-cost, low-risk, small experiment to test a potential idea, collect data, and learn insights from the market. Analysis has dominated the process for change, and it’s caused as much paralysis as analysis and “the tyranny of ROI.” Large businesses stifle creativity by requiring too much analysis. Leaders need to allow, fund, and get out of the way of learning launches.