BigThinking.io

The Mindset for Innovation : Everything is an Experiment

When most people think of innovation, they think of the execution phase. This is the phase where you’re actually building and executing your innovative idea. Very few people consider this developmental phase to be experimental; for many the innovation process begins with the idea and moves very quickly into the development phase, ending with a big product launch and millions of dollars of revenue. Easy, breezy.

However, rarely does “version one” of your executed idea make it into the marketplace; often the innovation process is a series of twists and turns as you learn new information that forces you to adjust to the markets. If you go into the execution phase with an expectation for learning, you will improve your chances of nailing your value proposition, reduce your development costs and eliminate frustration due to unrealistic expectations.

Before you begin building anything you should do two things:

1. State Your Hypothesis

What is your hypothesis? What do you believe to be the problem? What are you offering as the solution to this problem? Specificity is your friend. You can begin with the following statement:

Hypothesis: “I believe that [your target audience] will [measurable action] because [reason].”

 

Hypothesis Example: Groupon

The original value proposition for Groupon was to create a solution for local businesses to find potential customers (Hypothesis: I believe that local small businesses will provide discounts in exchange for being introduced to potential new customers)

Hypothesis Example: Zappos

The value proposition for Zappos involved created a solution for customers to stop for shoes online via a massive, one-stop, retail outlet. (Hypothesis: I believe that customers will purchase shoes online despite the fact that they can’t try the product before buying them)

2. Define Your Experiment

Remember that your hypothesis must be testable, measurable and have the potential of failing. What are you testing?  How will you measure your success? 
Now you’re ready to create a prototype to test your hypothesis. Please note that it’s best to take a “content first approach” to testing your hypothesis. Your prototype may not even require coding.

 

Prototype Example: Groupon

Groupon was originally run on WordPress because they only needed to test one thing: will local small businesses provide discounts in exchange for being introduced to potential new customers.

Prototype Example: Zappos

Zappos’ first prototype involved visiting local shoe stores to take pictures of shoes to post on their website. If someone purchased the shoe via their website, they simply went back to the store to buy the shoe and then mailed it to the customer. There were no large distribution centers. No inventory to purchase or manage. No call centers. No enterprise web application. Simply a website and pictures of shoes.

Remember that your hypothesis must be testable, measurable and have the potential of failing. What are you testing? How will you measure your success?

 

Kishau Rogers

Kishau Rogers is an award-winning technology entrepreneur specializing in wrangling complexity using computer science, systems thinking, creativity, and common sense. She is the Founder & CEO of Time Study, Inc., a high-growth startup offering solutions for using machine learning, advanced natural language processing, and data science to automatically tell a story of how enterprise employees spend their time and its impact on the areas that matter. As the Founder and CEO of Time Study, Kishau is one of the first Black women in Virginia to raise millions in venture capital to scale her tech startup. She is also the owner of Websmith Studio and the editor of the bigThinking project, a resource for promoting the principles of systems thinking.

Kishau’s work is featured in Forbes, The Wall Street Journal, Entrepreneur, and Black Enterprise. In addition, she is a recipient of many awards, including the VCU Distinguished Alumni (in Computer Science), NAWBO Wells Fargo STEM award, the Lyn McDermid Community Impact Award, and the MBL Entrepreneur of the Year Award.

In her commitment to using technology as a tool for social good, she also serves as an advisor to organizations and initiatives like AI for Afrika, Think Of Us, WAAW Foundation, Level Up Ventures, Virginia Commonwealth University Department of Computer Science, the first U.S. White House Hackathon for Foster Care and SheHacks Africa, a software engineering intensive providing training to women & girls across Africa.

She holds a Computer Science degree and has over twenty-five years of experience in the technology industry and more than 15 years of entrepreneurial leadership.

Subscribe

Join our community of bigThinkers! Subscribe to learn, share and receive resources to apply to wicked problems.

Follow us

Don't be shy, get in touch. We love meeting interesting people and making new friends.