Experimentation Works by
Publication Date: 2020-02-18
Don't fly blind. See how the power of experiments works for you. When it comes to improving customer experiences, trying out new business models, or developing new products, even the most experienced managers often get it wrong. They discover that intuition, experience, and big data alone don't work. What does? Running disciplined business experiments. And what if companies roll out new products or introduce new customer experiences without running these experiments? They fly blind.
That's what Harvard Business School professor Stefan Thomke shows in this rigorously researched and eye-opening book. It guides you through best practices in business experimentation, illustrates how these practices work at leading companies, and answers some fundamental questions: What makes a good experiment? How do you test in online and brick-and-mortar businesses? In B2B and B2C? How do you build an experimentation culture? Also, best practice means running many experiments. Indeed, some hugely successful companies, such as Amazon, Booking.com, and Microsoft, run tens of thousands of controlled experiments annually, engaging millions of users. Thomke shows us how these and many other organizations prove that experimentation provides significant competitive advantage.
How can managers create this capability at their own companies? Essential is developing an experimentation organization that prizes the science of testing and puts the discipline of experimentation at the center of its innovation process. While it once took companies years to develop the tools for such large-scale experiments, advances in technology have put these tools at the fingertips of almost any business professional. By combining the power of software and the rigor of controlled experiments, today's managers can make better decisions, create magical customer experiences, and generate big financial returns. "Experimentation Works" is your guidebook to a truly new way of thinking and innovating.
Effectual Entrepreneurship by
Publication Date: 2016-11-01
What are you waiting for? Whether you're dreaming about starting a business, learning about entrepreneurship or on the brink of creating a new opportunity right now, don't wait. Open this updated bestseller. Inside you'll find everything you need, including: new and popular ways to learn about and to practice entrepreneurship. new practical exercises, questions and activities for each step in your process. specific principles derived from the methods of expert entrepreneurs. over seventy updated case briefs of entrepreneurs across industries, locations and time. new applications to social entrepreneurship, technology and large enterprises. plentiful connections to current and foundational research in the field (Research Roots) brand new chapter on "The Ask" - strategies for initiating the process of co-creating with partners data that will challenge conventional entrepreneurship wisdom broader perspective on the science of entrepreneurship In this vibrant updated edition, you will find these ideas presented in the concise, modular, graphical form made popular in the first edition, perfect for those learning to be entrepreneurs or those already in the thick of things.
If you want to learn about entrepreneurship in a way that emphasizes action, this new edition is vital reading. If you have already launched your entrepreneurial career and are looking for new perspectives, take the effectual entrepreneurship challenge! this book is for you. If you feel that you are no longer creating anything novel or valuable in your day job, and you're wondering how to change things, this book is for you. Anyone using entrepreneurship to create the change they want to see in the world will find a wealth of thought-provoking material, expert advice and practical techniques in these pages and on the accompanying website: www.effectuation.org So, what are you waiting for?
The Lean Startup by
Publication Date: 2011-09-13
Most startups fail. But many of those failures are preventable. "The Lean Startup" is a new approach being adopted across the globe, changing the way companies are built and new products are launched. Eric Ries defines a startup as an organization dedicated to creating something new under conditions of extreme uncertainty. This is just as true for one person in a garage or a group of seasoned professionals in a Fortune 500 boardroom. What they have in common is a mission to penetrate that fog of uncertainty to discover a successful path to a sustainable business.
"The Lean Startup" approach fosters companies that are both more capital efficient and that leverage human creativity more effectively. Inspired by lessons from lean manufacturing, it relies on "validated learning," rapid scientific experimentation, as well as a number of counter-intuitive practices that shorten product development cycles, measure actual progress without resorting to vanity metrics, and learn what customers really want. It enables a company to shift directions with agility, altering plans inch by inch, minute by minute.
Rather than wasting time creating elaborate business plans, "The Lean Startup" offers entrepreneurs--in companies of all sizes--a way to test their vision continuously, to adapt and adjust before it's too late. Ries provides a scientific approach to creating and managing successful startups in aN age when companies need to innovate more than ever.
Why Startups Fail by
Publication Date: 2011-12-23
For the want-to-be entrepreneur thinking about taking the leap, the boot-strapped entrepreneur trying to energize a business three or four years in, and the venture-backed entrepreneur trying to scale, Why Startups Fail shows you the key mistakes new ventures make--and how to avoid them. Nearly everyone has an idea for a product they could build or a company they could start. But eight out of 10 new businesses fail within the first three years. Even only one in ten venture-backed startups succeeds, and venture capitalists turn down some 99% of the business plans they see. The odds appear to be stacked against you! But entrepreneurs often make the same avoidable mistakes over and over.
"Why Startups Fail" can help you beat the odds and avoid the pitfalls and traps that lead to early startup death. It's easy to point to successes like Apple, Google, and Facebook. But the biggest lessons can come from failure. What decisions were made, and why? What would the founders have done differently? How did one company become a billion-dollar success while another--with a better product and in the same market--fail? Drawing on personal experience as well as the wisdom of the Silicon Valley startup community, serial entrepreneur, venture capitalist, and blogger Dave Feinleib analyzes companies that have come and gone. In short, powerful chapters, he reveals the keys to successful entrepreneurship: Excellent product/market fit, passion, superb execution, the ability to pivot, stellar team, good funding, and wise spending. In "Why Startups Fail", you'll learn from the mistakes Feinleib has seen made over and over and find out how to position your startup for success.
"Why Startups Fail":
* Shows venture-backed startups and boot-strappers alike how to succeed where others fail.
* Is equally valuable for companies still on the drawing board as well as young firms taking their first steps.
* Takes you through the key decisions and pitfalls that caused startups to fail and what you can learn from their failures.
* Covers the critical elements of entrepreneurial success.
The fail-safe startup by
Publication Date: 2021-04
Why do 90% of start-ups fail? Are there mistakes that entrepreneurs the world over make and is there a way to avoid the known pitfalls of starting your own business?
In his 23 years at HBS, Tom has helped launch thousands of startups. 1300 have secured VC investment, and an incredible 13 have reached unicorn status (being valued at over 1 billion dollars), including Cloudflare, Blue Apron, and Zynga.
For a decade Tom has focussed his research on why startups fail and finally reveals his findings so you can avoid other's mistakes.
Eisenmann's fascinating advice debunks common Silicon Valley mythology including:
The False Promise: How early success, often based on extenuating factors, gives founders the misplaced confidence to expand.
The False Start: That the 'fail fast' mentality of many founders can mean launching before they're ready - wasting time and money.
The Audacity of Goals: Silicon Valley scoffs at moderate ambitions but the more audacious your goals, the more can go wrong.
The Titanic Effect by
Publication Date: 2019-06-11
Get a startup game plan! This startup book uses the Titanic and a sailing metaphor to provide a startup roadmap template. It shows what makes startups successfully navigate through challenges in startup investing, founding, and hiring with a game plan to get through the Human Ocean. It offers a startup guide to customer success in working through the Marketing Ocean. It even highlights what startups need to invest in to get through the Technical and Strategy Oceans. Its Iceberg Index gives entrepreneurs, startups, and small businesses a way to track their progress on the startup roadmap template. It also helps investors assess what startups to invest in. Many entrepreneurs assume that the Titanic was sunk by a single iceberg. The Titanic Effect shows, that like many startups, it's not a single misstep but a series of mistakes that keep a startup from being successful. This combination of missteps is called the Titanic Effect.
Who can benefit from this startup roadmap? Entrepreneurs in the early stages of building a startup. They will learn what makes a startup successful. They will develop a to-do list of decisions to make and actions to take. Small business owners will also identify key next steps to building their startup game plan. Investors can identify what to avoid in startup investments and what startups to invest in. Students will learn how to evaluate the success potential of a startup and will read small business and startup success stories.
These three co-authors have witnessed firsthand what leads to startup success. They have made it their mission to help entrepreneurs, startup founders and startup investors succeed. Drs. Todd and M. Kim Saxton bring more than two decades of academic and professional experience in business strategy, entrepreneurship, marketing, and angel investing. Serial tech entrepreneur, Michael Cloran, adds his two decades' of experiences in launching his own startups as well as building software products for other startups. In addition, the co-authors serve on various boards of entrepreneurial ventures and startup advisory associations. They have shared their expertise from the stage to dozens of audiences, including students, entrepreneurship and professional development associations, academic societies, and global companies like Roche Diagnostics and Pfizer Pharmaceuticals.
Risk up Front by
Publication Date: 2018-06-04
The ability to relentlessly identify and mitigate risk. That is the key to high-performance project teams. Successful projects depend more on your team's behavior than on their project tools. This book focuses on the fundamentals: simple structures and practices, applied with rigor. These are the tools you need to avoid the late changes that kill project schedules. Underlying all of them are four principles: accountability, transparency, integrity and commitment. "Risk Up Front" is designed to turn these principles into practice. Murphy's Law tells us, "If anything can go wrong, it will." "With Risk Up Front", even risks hiding in your team's blind spot can be discovered and handled, before Murphy has a chance.
HBR's 10 Must Reads on Managing Risk (with Bonus Article Managing 21st-Century Political Risk by Condoleezza Rice and Amy Zegart) by
Publication Date: 2020-05-26
Is your business playing it safe—or taking the right risks? If you read nothing else on managing risk, read these 10 articles. We've combed through hundreds of Harvard Business Review articles and selected the most important ones to help your company make smart decisions and thrive, even when the future is unclear.
This book will inspire you to:
* Avoid the most common errors in risk management
* Understand the three distinct categories of risk and tailor your risk-management processes accordingly
* Embrace uncertainty as a key element of breakthrough innovation
* Adopt best practices for mitigating political threats
* Upgrade your organization's forecasting capabilities to gain a competitive edge
* Detect and neutralize cyberattacks originating inside your company
Make Your Own Luck by
Publication Date: 2005-05-05
Humans are gambling animals—and not just when we invest in the stock market. Every time we take an action—deciding which job applicant to hire, which product to launch— we are betting our time, reputation, effort, and money in the hope of achieving some future result. Some people base their business bets on dumb luck, but the great ones—like Bill Gates, Warren Buffett, and Oprah Winfrey—make their own luck. Eileen C. Shapiro and Howard H. Stevenson have compressed the complex skills of making your own luck—which they call predictive intelligence—into twelve easy and practical steps. These steps will get you the results you want with the least risk and the most upside. They will help you take smarter risks without the “analysis paralysis” that gets so many people and companies in trouble. Most books about strategy are dull and loaded with jargon. Make Your Own Luck is full of jokes, brain teasers, anecdotes, and unexpected case studies from the Battle of Antietam to the diaper war between Huggies and Pampers. It teaches readers how to build their ability to bet smart and how to use this ability to win in business and in other areas of life.