Strategyzer Webinar: The Basics Of Testing Business Ideas

📈 Traditional business plans are actually the worst way to go from idea to business, according to the journey of innovation and entrepreneurship. 🔍 The whole idea of testing is to figure out what could work and what won't work and iterate our idea. 🔍 "No business plan survives the first contact with customers" - Steve Blank 💡 Testing desirability, feasibility, viability, and adaptability are crucial for any business idea to succeed. 🔍 Using storyboards, cards, and prototypes can help elicit valuable feedback from potential customers and stakeholders without needing to build a full product. 💡 Testing critical assumptions in business can involve getting stakeholders to make a commitment, such as surgeons signing a recommendation letter for a new medical device. 🔄 Innovation is about being willing to go back to square one and abandon ideas that aren't working, even if it means shutting down a project. 📊 Our task is to reduce uncertainty and create more certainty by testing and taking action, ultimately reducing the risk.