Why stay with an old business model, when you could have a
better one? This takes identifying an idea you want to try.
Next, you need to validate that idea. You are now ready to
test your best ideas. By running more than one test at a
time, you speed the chance that you will verify a good idea.
You want to get into the market fast with your improved
business model. Freeing up resources from tests that are
failing can help you do that. How can you speed up the
process of making those resources available again?
Some of the tests will start to flop as soon as you begin
them. That lack of results may come from finding out that a
key assumption was wrong (for example, that it is easy to
put together a prototype process to provide the new
benefit), or from total disinterest by those who are
supposed to be excited.
Many of these tests should be immediately and permanently
stopped. Some should be re-framed and focused to reflect
what has been learned, especially where there is an
execution problem. In either case, little purpose is served
by continuing with the planned test.
At each review ask why the test should continue any further
and what will be gained. Often, the answer will be that the
test should not continue and that nothing will be gained
because as much useful information has already been
gathered as one can hope for.
On the other hand, the unexpected will often provide clues
to breakthroughs. Especially pay attention to situations
where a customer buys a great deal more than you would have
ever thought possible, and where customers ignore something
that looks like a great deal.
In the former instance, you may simply be seeing leakage. A
local unit of a national organization may be buying into
your new offering for their whole company. That means that
your test is working, but not as well as you thought.
Of even greater significance is the possibility that they
have found a new way to use your offering. Ray Kroc's first
introduction to McDonald's came from his curiosity about
why one hamburger stand in San Bernardino, California was
ordering so many more milk shake mixers than any of his
other customers.
When customers ignore something you think will expand their
use, you also have the opportunity to learn something
valuable. What were you missing when you decided to run
the test?
Copyright 2008 Donald W. Mitchell, All Rights Reserved
----------------------------------------------------
Donald Mitchell is chairman of Mitchell and Company, a
strategy and financial consulting firm in Weston, MA. He is
coauthor of seven books including Adventures of an
Optimist, The 2,000 Percent Solution, and The Ultimate
Competitive Advantage. You can find free tips for
accomplishing 20 times more by registering at:
====> http://www.2000percentsolution.com .
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