Coaching for Leaders

470: How to Build an Invincible Company, with Alex Osterwalder

May 18, 2020
Alex Osterwalder, a leading management thinker and co-founder of Strategyzer.com, shares insights on building invincible organizations. He delves into the balance between exploration and exploitation in innovation. Discover the five myths about the innovation journey, including the misconception that finding a perfect idea is key. Osterwalder emphasizes the importance of experimentation and evidence-based decision-making. He also discusses how constraints can spark creativity and drive company reinvention, using real-world examples to illustrate his points.
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INSIGHT

Exploration vs. Exploitation

  • Divide your company into two parts: exploitation (managing what you have) and exploration (inventing the future).
  • Most companies overemphasize exploitation and underemphasize exploration.
ADVICE

Test and Adapt, Don't Just Pick Ideas

  • Test and adapt your ideas to find a value proposition customers care about and a scalable business model.
  • Don’t just pick a bold idea and assume it will work; test your assumptions, especially during times of uncertainty.
ANECDOTE

Strategizer's Pricing Experiment

  • Strategizer tested different price points for their virtual masterclass via email.
  • The highest price point converted best, showing customers' willingness to pay for valuable content.
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