Entrepreneurship Ideas In Action – Business Idea Testing explains how to increase the success of any venture by providing a practical guide to rapid testing.
Experimentation is hard You want to start experimenting with your ideas to avoid big failures, but you’re not sure where to start.
Entrepreneurship Ideas In Action
Find a way to scale Build a bulletproof, evidence-backed case so that your idea doesn’t fail and is ready to scale.
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Download the 88 pages for free. Get your copy today. Win systematically with small bets. Join the testing movement today and learn how to turn your idea into a successful business! amazon.co.uk / amazon.ca / amazon.de / amazon.fr / amazon.it / amazon.es Other languages: German, French, Italian
Summary 7 new products out of 10 do not meet expectations. The purpose of business idea testing is to reverse this statistic. In the tradition of world bestselling business model generation, this handy guide includes practical techniques for quickly testing new business ideas to reduce the risk of failure. The book explains how systematic testing of business ideas can dramatically reduce risk and increase the likelihood of success for any new venture or business project. It is based on the Business Model Canvas and the Value Proposition Canvas, integrating assumptions mapping and other powerful linear startup-style experiments. The book concludes with practical tips for teams to make testing a continuous and repeatable process. Finally, challenging managers to encourage an experimental mindset in their organization, this book is the definitive guide to business model testing.
Contents Prepare Build a team (p. 3) Plan an idea (p. 15) Test a hypothesis (p. 27) Experiment (p. 41) Learn (p. 49) Decide (p. 59) Lead (p. 65) ) Experiments Choosing an Experiment (p. 91) Discovering (p. 101) Validation (p. 231) Mindset Avoiding Pitfalls in an Experiment (p. 313) Conducting an Experiment (p. 317) Organizing for Experiments (p. 323)
Business Idea Testing works with popular tools like the Business Model Canvas and the Value Proposition Canvas. The “Method” chapter teaches you how to break down your ideas into prioritized, testable assumptions to focus your efforts. Then you use selection guidelines to choose the right process to get evidence to reduce risk and modify the plan if necessary. By working this way, you always have a clear next course of action, avoid major failures and constantly move from your vision to a validated business idea.
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Sole traders understand the future viability of your business idea. Use your time effectively to pursue the right experiments. Present your ideas clearly with evidence to turn your side hustle into a business.
Corporate teams explain the testing process. Build your innovation practice. Communicate evidence and progress to stakeholders. Find the right test for your next big risk.
Startups identify your company’s biggest risks. Reduce risk by creating concrete evidence. Provide evidence and agree with co-founders or other stakeholders. Make small bets to grow your business on the right path to scale.
David J. Bland David helps companies around the world find their product market fit using lean startup, design thinking and business model innovation.
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Alexander Osterwalder Dr. Alexander Osterwalder is the lead author of the international bestseller Business Model Generation, a passionate entrepreneur and sought-after speaker.
Alan Smith Alan is obsessed with design, business and how we do them. He co-founded Helping Business People Do Things Customers Really Want.
As expected, Bland & Osterwalder did a great job explaining their testing framework, identifying who could benefit from it and where each set of questions applies to the previous business model canvas framework. They share the idea of testing … read more > – Brian K. S.
I like how the book breaks down the process of generating new ideas based on the scientific method: brainstorm all the hypotheses related to your new business idea. Map them into a 2×2 matrix to prioritize them (the axes are: … read more > — Charles D. J.
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We’ve only had the book for a couple of weeks – I’ll say I bought it for myself, but I shared it with my team. The basic concepts are here to help anyone with innovation or new product and business development. Unlike many books in this category… read more > – Scott
A resource-rich resource – keep it close when you launch an idea, product or venture
The term “experiments” leads to an interesting phenomenon in the world of innovation and entrepreneurship. Because our assumptions about the future are so grandiose and obvious, most founders, innovators and leaders think… read more > – John B.
Bland and Osterwalder’s thinking for testing business ideas is brilliant. These models are easy to follow and make it easy to create a visual business canvas that anyone can understand. Not only did it help me organize my new startup… read more > — Jesse T. Entrepreneurs are known for their ideas, and indeed, a large part of the famous “entrepreneurial mindset” is the ability to generate ideas. But many entrepreneurs jump from idea to action. Although this may seem bold and daring, it can cause problems for you and your business. Lack of planning prevents you from turning your ideas into reality. Often it’s just overconcentration!
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However, planning is more than just making a list or plan. The implementation of an idea requires an idea for itself. Then you need to work through the ideas with your team before thinking about taking action.
I call it the Ideate – Postulate – Activate Model, or the IPA Model for short. By following this process, you can move forward in your business with the confidence and a well-planned approach, both of which will contribute to your success.
Do you have an idea? Excellent! Now is the time to work through the idea. Use a whiteboard to map out your idea (I like to use Coggle.it as one of my main tools to get my ideas out there). Consider different aspects of this idea. Collaborate with your team on idea variations, strategies, features and more. Once you’ve thought about an idea, it’s time to give it structure.
Once you have finalized your idea, you can create a hypothesis. Based on the information you have and your team’s opinion, what do you predict about your idea? This is your chance to add structure to the idea and start figuring out how to make it happen. By doing this, you should feel more confident about the idea.
Workbook For Greene’s Entrepreneurship: Ideas In Action, 5th: Greene, Cynthia: 9780840064868: Books
Confidence increases as you work through the postulations. However, avoid the red zone of overconcentration. This can lead you to step three too quickly.
Thought and postulation must occur before activation. You must have a road map before you start your journey. Take the time to capture your ideas, develop and refine the process, and collect and implement feedback. There is no right or wrong time for this. From there, you’ll need the increased confidence you gained in the second step to put your goals into action –
The IPA model is a framework for realizing your goals. But none of this happens without clarity. Throughout the process, collect feedback and reflect instead of moving forward. Done right, this IPA process will keep your team cohesive, keep your customers happy, and keep you happy and productive.
This is the goal of simplifying business. We help entrepreneurs every day with clarity, confidence and momentum with such models, giving you the opportunity to use them for your business.
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