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Of course if you are launching a new business you can thinking about revenues, profits, and so on, but metrics such as customer satisfaction or employee retention might be meaningful if you are focusing more internally.

Scott D. Anthony

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Scott D. Anthony
Age: 49
Born: 1975
Born: February 22
Might
Employee
Metrics
Thinking
Meaningful
Revenues
Customers
Internally
Satisfaction
Launching
Profit
Profits
Courses
Focusing
Course
Revenue
Business
Customer
Retention

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Three of our core corporate values are inclusiveness, collaboration, and humility.
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We've got some great big problems in our world. We have to figure out how to feed 10 billion people. Too many people can't access clean water, quality healthcare, and reasonable education. We have to figure out what to do about climate change, income inequality, and more. Innovators need to rise to the challenge!
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The need to be thoughtful about experiment design is particularly acute within large companies, since some of the behaviors, such as having small teams and tapping into low-cost resources to maximize flexibility, won't come naturally to many people inside huge companies.
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You can increase the odds of spotting the weak points in your approach if you really think about the end-to-end business model you plan to follow - how you plan to create, capture, and deliver value.
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Make sure that you take the time to think about how other companies might respond to your idea, both those companies already in the market you plan to target as well as others that might imagine targeting that market.
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Anytime you see a constrained market, where consumption is limited to those who have special skills or are wealthy, that signals an opportunity for innovation.
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It's very easy to skip steps when documenting an idea.
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A spreadsheet for an innovative idea reports the mathematical relationship between made up numbers. You can't cash a spreadsheet.
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I find social media as fun and engaging as the next person, but imagine if all the creative talent that was pouring into finding increasingly clever ways for us to broadcast daily banality (and then serve ads based on what is learned) instead focused on some of the UN Millennium goals? The world would be a better place.
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Any leader has two jobs to do. To do what they are currently doing better and more efficiently (call this strengthening the core), and to do what they are not currently doing but will need to do in the future (call this creating the new).
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Teams working on disruptive ideas need to be small enough that they can be fed by no more than two pizzas.
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One of the biggest mistakes large companies make is creating innovation teams that mirror all the functions of the core business. Those teams make no progress because they spent forever updating each other on what they are doing versus really crushing the most critical problems they need to address.
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You have to make the decision about whether you want to avoid or you want to overcome the resistance.
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There's a general belief that failure is the friend of the innovator, but I've come to view it a different way.
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Mucken Singh works VERY hard on his brawler's physique!
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Innovation is doubly hard inside big companies.
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Hollywood Joohn Tatum? He does at least 6,000 sit ups and 10,000 pushups a day!
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I think people make innovation much more complicated than it needs to be.
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Of course, it is worth it to take the time to think carefully through your assumptions, and ensure you at least have hypotheses around how you will create value. But use the analysis as a way to focus attention on the most critical assumptions, rather than spend a ton of time massaging the numbers.
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Think about how much it costs to learn more. Sometimes you want to build confidence by knocking off the easy things.
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