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Zusammenfassung von Testing Business Ideas

Name: Testing Business Ideas
Rating: 4.4 (95 reviews)
Author: David J. Bland and Alexander Osterwalder

David J. Bland and Alexander Osterwalder

A Field Guide for Rapid Experimentation

4.4 (95 Bewertungen)

24 Min.

Kurz zusammengefasst

Testing Business Ideas by David J. Bland and Alexander Osterwalder is a guidebook for entrepreneurs and innovators that provides actionable steps for testing new business ideas, minimizing risk, and maximizing potential success.

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Unternehmertum Strategie Start-Ups Kleine Unternehmen

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Testing Business Ideas
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What’s in it for me? Put your business ideas under the microscope

You might have a great idea for a new product, but how can you be sure that your brainwave will live up to its promise? Many entrepreneurs rush to take their product to market, figuring that fortune favors the bold. While this may be true, fortune also favors those who test, test, test.

That’s where these blinks come in. You’ll learn how to use experimentation to transform your bright idea into a profitable business venture. You’ll discover how to save precious time and money by testing how feasible, desirable, and viable your plans are. From risk-reduction to data analysis, these blinks will show you how to make a success of your business from the word go.

In these blinks, you’ll learn

why you can’t trust what your customers tell you;
how to paint your business canvas; and
what not to do when running your experiments.

The best teams are diverse, open-minded, and entrepreneurial.

If you’re going to test your business ideas, you’ll need a great team in place. But what kind of people do you need to hire for your winning team? What sort of skills do they need to bring to the table, and how can they work together to make your venture a success?

Well, it all starts with great design, and the best entrepreneurs proactively design their teams. They think carefully about bringing together people who have a cross-functional skill set that encompasses all or most of the competencies that a fledgling business needs.

The key message here is: The best teams are diverse, open-minded, and entrepreneurial.

Some of the most important skills needed are a knack for design, product knowledge, and tech prowess. Other capabilities you might want to add are sales and marketing expertise, legal know-how, and data management. If you can’t find the right people with all of these skills, then you may be able to partner with people outside of your organization. Alternatively, you might be able to invest in technical programs that can help fill the gaps.

As well as having a wide range of capabilities, the best teams tend to be diverse. They are filled with people from a range of backgrounds – of different genders, ethnicities, ages, and careers. Why is diversity so important? Because a successful business has an impact on people’s lives and on society as a whole – and society is made up of people from all walks of life. If business teams don’t reflect this reality, then their decision-making – and their testing – will contain inherent biases.

The best teams also engage in three specific behaviors that continually help to improve their performance.

First, great teams accept that they won’t always get things right. They’re unafraid to run experiments to test their assumptions – and they’re honest with themselves when the results show their assumptions are wrong.

Second, winning teams are highly customer-centric. They know exactly why their business is helpful to their customers’ lives, and they have a genuine connection to the people who use their products. What’s more, they stay in touch with their old customers as well as their newest ones.

Finally, whatever line of business they’re aiming for, the best teams have an entrepreneurial spirit. They work fast, and they can solve problems creatively and validate new ideas on the fly. Entrepreneurial teams move so quickly because they have a feeling of urgency and momentum; things need to happen today rather than tomorrow.

You can use certain tools to make your ideas clearer and more tangible.

All great businesses start with a great idea. But what next? The answer is a loop – a design loop. The design loop is a way for you to shape and tweak your initial ideas, so that you can transform them into the best possible business model.

The design loop has two phases. The first phase is all about ideating. In this stage, you’ll come up with as many ideas as you can. But don't just go ahead with your earliest ideas. Instead, keep generating alternative concepts for how you can progress your venture.

A well-formed business hypothesis has certain characteristics.

When you have a promising idea for a new venture, it’s tempting to rush ahead and implement it straight away. But slow down. Because at this stage of the game, all you really have are a bunch of assumptions – and assumptions can be wrong.

It's crucial to test your assumptions before you start relying on them. Luckily, testing is a simple step-by-step process.

Learn to tell the difference between good data and better data.

Once you’ve decided on your hypothesis, you can test it by running some experiments. You might be worried that these experiments will involve additional investment, or even new hires on your part. But they don't have to. In fact, your early experiments should be run quickly and cheaply. This will enable you to learn fast and run even more experiments. And the more experiments you run, the more you’ll reduce your chances of spending time, money, and creative energy on things that won't work out.

The key message here is: Learn to tell the difference between good data and better data.

Both weak and strong evidence is valuable in the discovery phase.

There are many different experiments you can run, and most fall broadly into one of two categories: discovery experiments and validation experiments. In this blink we’ll look at discovery experiments.

This type of test will help you examine the assumptions that underlie your business proposition – and determine whether said assumptions are right. Better yet, what you learn in these experiments will allow you to correct your course quickly if the evidence doesn't align with your assumptions.

Take the time to understand whether your direction is sound.

Once you’ve run discovery experiments to test your initial ideas, you can move forward with your chosen concept. You might assume this is the end of the testing phase of your venture, but you still have some distance to go. However, now that you’ve decided on a direction, you can start the important phase of validation testing.

This phase will help inform you whether the path you decided on was in fact the right one. Has it led to a promising concept that can meet your customers’ needs, or did you draw the wrong conclusions from the discovery phase? The only way you’ll find out is through continued testing.

Teams can fall into mindsets that hinder their testing.

Sometimes the best-laid plans don’t work out. Failure is an inevitable occurrence on the path to success, but there are some common testing pitfalls that you can avoid falling into.

The first trap is not spending enough time on testing.

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Worum geht es in Testing Business Ideas?

Testing Business Ideas (2021) explores how entrepreneurs can use experimentation to give their new venture the best chance of success. It outlines the rationale behind testing, and describes a framework for deciding how to proceed.

Wer Testing Business Ideas lesen sollte

Anyone working at a small company or start-up
Entrepreneurs hoping to turn their big idea into a profitable venture
Business students looking for fresh insights

Über den Autor

As well as being an author, David J. Bland is the founder of Precoil, a strategy consultancy that helps businesses test their ideas. Alexander Osterwalder is a business theorist and entrepreneur who specializes in business modeling.

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