There are two types of acceptable outcomes in an innovation effort: (1) a success and (2) a failure that comes as quickly and inexpensively as possible. The most undesirable outcome is a long, expensive, painful failure. Therefore, as the Box 3 initiative moves forward, you want to spend a little to learn a lot and to reduce project risks. To do this, you need to test the critical assumptions (as described, assumptions that if proven incorrect would kill the project) using low-cost experiments and base your course of action on the experiments’ outcome. Let’s look at some ways to enhance this type of learning.
Running a Disciplined Experiment
Executing a Box 3 project involves knowing how to run a disciplined experiment. Your ability ...