LESS RISK, MORE FUN
Innovation makes problems: it costs money, and it is risky.
How can we de-risk our innovation activities?
These are the five critical elements of testing and de-risking new business ideas:
1 Build common hypotheses.
2 Craft an experiment card and let multiple experiments run in parallel.
3 Collect data on the experiments that invalidates/validates the hypothesis. With this evidence at hand, discuss which interpretation and insights to generate from it.
4 Translate insights into actions.
5 Keep rolling.