Building a Discovery Driven Plan: What are the typical assumptions?
I’m often asked to give people a checklist of assumptions that they can use to get started developing a discovery driven plan. Here are some of the most critical:
What is my profit model?
- Have I really thought through my unit of business (what I sell)?
- Have I thought through how my business is going to run - cost, asset, and revenue architectures?
- What assumptions am I making about major obstacles and the likelihood of breaking through them
Who are my customers?
- Who will be buying and why? Can you name them (your ‘first five’ sales)?
- What will produce or reduce resistance to buying?
- How do customers from different market segments behave differently?
- Market growth rate?
- How will the customer be accessed (distribution?)
- How many potential customers must I contact before one agrees to buy?
What about my offer will make a compelling difference in the marketplace?
- Functional characteristics relative to market’s need
- Cost and quality
- Entire ecosystem in place - or can be put together
- Service requirements and costs
Share this article: 
- Posted Rita McGrath on May 16, 2008
New Social Networking site - the Mistake Bank
The Mistake Bank is a fascinating new social network concept introduced by John Caddell, a one-time telecom corporate type and now a consultant helping companies become more innovative. The idea behind the network is to help people benefit from one anothers’ mistakes and disappointments and to foster a spirit of ‘lessons learned.’
For a long time, I’ve noted that until we get better and learning from intelligent failures, we’re doomed to repeat them. Resources such as this site can only help!
Relatedly, the presence of the social network also takes advantage of another innovation, sparked by upstart Ning. As reported in a recent Fast Company article, Ning has a viral component to it that poises it for explosive growth.
Share this article:
- Posted Rita McGrath on May 09, 2008
Be Strategic About Your Time
Rita McGrath is a regular Discussion Leader at the Harvard Business Publishing blog. Read her May 6 posting on Be Strategic About Your Time.
Share this article:
- Posted Admin on May 08, 2008
Who’s Disrupting the Gaming Industry?
Rita McGrath is a regular Discussion Leader at the Harvard Business Publishing blog. Read her April 27th posting on Who’s Disrupting the Gaming Industry?
Share this article:
- Posted Admin on April 28, 2008
Turning the insurance business model on its head: FM Global
Fast Company, a magazine that often uncovers little gems, reports on a unique business model being pursued by insurance giant FM Global. Instead of deploying armies of actuaries to predict the risk of certain types of disasters (fires, physical plant injuries, and soon), FM Global actually tests the risks of certain kinds of events occurring, and makes recommendations to its clients for how to avoid disasters in the first place. Brilliant!
What I particularly liked about their approach is that they have figured out a way to align interests in the pursuit of prevention. In most situations, there are plenty of resources to address problems after they occur, but a reluctance to spend money on preventing the bad stuff from happening in the first place. FM Global has an innovative way of getting around this.
Share this article:
- Posted Rita McGrath on April 27, 2008
