Ep. 166 - David Bland, Co-Author of Testing Business Ideas & Founder of Precoil on Rapid Experimentation

David Bland is the Founder of Precoil and the Co-Author of Testing Business Ideas, along with Alexander Osterwalder. David talks with Brian Ardinger, Inside Outside Innovation Founder, about risk, generating evidence through experimentation, and listening to customers. David’s new book is a field guide for rapid experimentation. Through tactical examples, it describes what he’s seen with various teams and testing in the market. It also describes product and backend business model testing, in addition to 44 experiments organized from low strength of evidence to high strength of evidence. Key Points - Think about risk - I have this risk. Should we do this? Can we do this? Companies need to generate more evidence before jumping to build. Learn about desirable, viable, and feasible. - What has changed in the experimentation process? Originally landing pages were it. Now we need to think about the hypothesis we’re trying to test. Experimentation terminology and processes are being adopted by product managers. - Business Model Canvas - People stop with how to address risk and making that a repeatable process. Need to connect to outcomes. Discovery isn’t a phase. It’s continuous. Look at retail and automotive.  - Need for experimentation taking hold. Need to move fast and put learning into action. Learning from customers gets you farther.  - Companies need to teach experimentation. Democratizing process. Multi-year journey. - Innovator Skills and Talent: Creative problem solvers that can deal with uncertainty and take initiative. Find and give people a chance to be entrepreneurs. Exhibit behaviors that are customer-centric, data influenced, and willing to test the status quo. - Environment for innovators is crucial.  For More Information Check out David’s new book Testing Business Ideas at precoil.com, Strategyzer.com, or on Amazon. This week's podcast is sponsored by RSM - Audit, Tax, & Consulting Services for the Middle Market   For similar podcasts, check out: Ep. 164 – Josh Seiden, Author of Outcomes Over Outputs on Being Outcome Centric Ep. 140 – Melissa Perri, Escaping the Build Trap Author and Produx Labs CEO Ep. 126 – Barry O’Reilly, Author of Unlearn & Lean Enterprise   Find this episode of Inside Outside Innovation at insideoutside.io. You can also listen on Acast, iTunes, Sticher, Spotify, and Google Play. FREE INNOVATION NEWSLETTER Get the latest episodes of the Inside Outside Innovation podcast, in addition to thought leadership in the form of blogs, innovation resources, videos, and invitations to exclusive events. SUBSCRIBE HERE For information regarding your data privacy, visit acast.com/privacy