There are dozens of frameworks, methodologies and aids for testing concepts — all are very helpful. Underneath all of them are what I call the “principles for betting small”:Formalize —> Define your key risks, principles, strategies, hypotheses and constraints. Frame them as outcomesPrioritize —>Evaluate the outcomes according to value, risk and “ease to test”Strategize —>Design and execute experiments to test and learn — as cheap, fast, meaningful and in parallel as feasibleScrutinize —>Review, debate and draw insights with a critical eye and judgement. The risks are slowing down and falling in love with a conceptMesmerize (or monetize, your choice) —>Iterate to prove and refine the critical outcomes of the new capability, and then scale your Big Bet
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THINK BIG --> but Bet Small
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There are dozens of frameworks, methodologies and aids for testing concepts — all are very helpful. Underneath all of them are what I call the “principles for betting small”:Formalize —> Define your key risks, principles, strategies, hypotheses and constraints. Frame them as outcomesPrioritize —>Evaluate the outcomes according to value, risk and “ease to test”Strategize —>Design and execute experiments to test and learn — as cheap, fast, meaningful and in parallel as feasibleScrutinize —>Review, debate and draw insights with a critical eye and judgement. The risks are slowing down and falling in love with a conceptMesmerize (or monetize, your choice) —>Iterate to prove and refine the critical outcomes of the new capability, and then scale your Big Bet