Learning Launch

Challenge

As a part of Technology and Innovations sector in my company, our daily task is to find and  recognize good ideas, to start new businesses and fulfill our company strategy. My biggest  challenge was not how to get a new idea, than what to do with an idea once when you have  it. How to do research in the most efficient way, how to collect valuable data, how to analyze  the data once you collect it, when to invest more resources into an idea or when to kill it if it is  not good enough? Ideas are all around us, ideas are not unique (if the idea is unique, then  there is probably no need for it), the challenge was how to do the next step and decide is it  worth it to invest in it.

Selection

After many tries, the Learning Launch tool crystallized as a really good solution for my  problem. Watching Learning Launch Tool lecture from Norbert Nie, it helped me to  structure my thinking, and improve the process I used in my daily work. Now the decision  process is much faster because I make a decision based on much better data. A learning  launch is a quick and inexpensive experiment which enables to gather market data to  determine whether a business idea is good enough to conduct detailed research and to  invest further time, people and resources.

Application

Starting from zero, the process started with many questions and the small game which I  applied as follows:

 Write on the paper as much as possible target groups in 5 minutes.

o Mark with 1-3 how easy is to reach every specific target group.  o Mark with 1-3 weather this target group has money.  o Mark with 1-3 if this target group is already using our products.

 Summarize the points for each group, and choose top 3 target groups with maximum

points.

 Create one unique target group out of 3 chosen groups.   Prepare a questionnaire for the chosen target group.    Go out, locate your target group and conduct interviews.       Analyze collected data, search for patterns and possibilities. Define the problems from

the specific target group. Reclassify problems to the urgency of solving the problem.

 Define possible solutions for the biggest and the most urgent problem, and explain it in

three different versions.

 Choose the best solution for the chosen target group, describe it briefly, define key

features, answer “What is” questions:

o What is…? – solution enabling; unlikely; value proposition to a particular target

group; execution strategy; competitor reaction.

 Define what you don’t know.   Separate out the unknowns that matter — the critical assumptions on which the new

business rests — from the ones that don’t.

 Design the hypothesis-testing experiment.

o Design the series of small moves to gather data to test whether or not these

assumptions turn out to be true after product launch.

 Find perspective customer and test a prototype.     Based on the outcome of the test, continue to pursue the new initiative, refine it and

improve it, or kill it.

 After enough research through the learning launch to assure the new idea, move to

staging a roll-out of the idea.

This tool didn’t help me much to find out what are unknowns that matter, and how to define  critical assumptions. If assumptions are defined wrongly, hypothesis-testing will result with  wrong results that will bring you to the wrong path and wrong decision.

Insight

This tool helped me to structure ideation process and to create a cookbook for developing  new ideas. This cookbook can be transferred to a checklist that will help you not to forget any  step in an ideation process ever again.

Approach

I will use the same tool again for sure, next time I’ll try to improve finding unknowns and  defining critical assumptions, and how to conduct the whole process in the team with more  people involved, because more people means more perspectives.


Learning Launch Challenge As a part of Technology and Innovations sector in my company , our daily task is to find and recognize good ideas , to start new businesses and fulfill our company strategy . My biggest challenge was not how to get a new idea , than what to do with an idea once when you have it . How to do research in the most efficient way , how to collect valuable data , how to analyze the data once you collect it , when to invest more resources into an idea or when to kill it if it is not good enough ? Ideas are all around us , ideas are not unique ( if the idea is unique , then there is probably no need for it ) , the challenge was how to do the next step and decide is it worth it to invest in it . Selection After many tries , the Learning Launch tool crystallized as a really good solution for my problem . Watching Learning Launch Tool lecture from Norbert Nie , it helped me to structure my thinking , and improve the process I used in my daily work . Now the decision process is much faster because I make a decision based on much better data . A learning launch is a quick and inexpensive experiment which enables to gather market data to determine whether a business idea is good enough to conduct detailed research and to invest further time , people and resources . Application Starting from zero , the process started with many questions and the small game which I applied as follows :  Write on the paper as much as possible target groups in 5 minutes . o Mark with 1 - 3 how easy is to reach every specific target group . o Mark with 1 - 3 weather this target group has money . o Mark with 1 - 3 if this target group is already using our products .  Summarize the points for each group , and choose top 3 target groups with maximum points .  Create one unique target group out of 3 chosen groups .  Prepare a questionnaire for the chosen target group .  Go out , locate your target group and conduct interviews .  Analyze collected data , search for patterns and possibilities . Define the problems from the specific target group . Reclassify problems to the urgency of solving the problem .  Define possible solutions for the biggest and the most urgent problem , and explain it in three different versions .  Choose the best solution for the chosen target group , describe it briefly , define key features , answer “ What is ” questions : o What is … ? – solution enabling ; unlikely ; value proposition to a particular target group ; execution strategy ; competitor reaction .  Define what you do n’t know .  Separate out the unknowns that matter — the critical assumptions on which the new business rests — from the ones that do n’t .  Design the hypothesis - testing experiment . o Design the series of small moves to gather data to test whether or not these assumptions turn out to be true after product launch .  Find perspective customer and test a prototype .  Based on the outcome of the test , continue to pursue the new initiative , refine it and improve it , or kill it .  After enough research through the learning launch to assure the new idea , move to staging a roll - out of the idea . This tool did n’t help me much to find out what are unknowns that matter , and how to define critical assumptions . If assumptions are defined wrongly , hypothesis - testing will result with wrong results that will bring you to the wrong path and wrong decision . Insight This tool helped me to structure ideation process and to create a cookbook for developing new ideas . This cookbook can be transferred to a checklist that will help you not to forget any step in an ideation process ever again . Approach I will use the same tool again for sure , next time I ’ll try to improve finding unknowns and defining critical assumptions , and how to conduct the whole process in the team with more people involved , because more people means more perspectives .