HIGH VELOCITY EXPERIMENTATION IS THE BACKBONE OF TODAYโ€™S WORLD INNOVATION

 

๐Ÿ‘‰ Data is more valuable than anything else

๐Ÿ’ก The higher quality of the data, the more reliable your decisions are.

โ€จ

๐Ÿ— It’s somewhat similar to extracting oilย 

๐Ÿ‘‰ Certain geographic areas in the world yield better quality oil per liter per operation cost

โ€จ

๐—›๐—ผ๐˜„ ๐—ฐ๐—ฎ๐—ป ๐˜€๐˜๐—ฎ๐—ฟ๐˜๐˜‚๐—ฝ๐˜€ ๐—ด๐—ฒ๐—ป๐—ฒ๐—ฟ๐—ฎ๐˜๐—ฒ ๐—ด๐—ฟ๐—ฎ๐—ฑ๐—ฒ-๐—ฎ-๐—พ๐˜‚๐—ฎ๐—น๐—ถ๐˜๐˜† ๐—ฑ๐—ฎ๐˜๐—ฎ ๐˜๐—ผ ๐—ถ๐—ป๐—ณ๐—ผ๐—ฟ๐—บ ๐˜๐—ต๐—ฒ๐—ถ๐—ฟ ๐—ฑ๐—ฒ๐—ฐ๐—ถ๐˜€๐—ถ๐—ผ๐—ปโ“

 

๐Ÿ‘‰ If today’s global world is an ocean, then by casting a wide net into it

Your wide net is the number of experiments you conduct per time range. And you want to aim at the maximum possible number of experiments

 

๐Ÿ‘‰ Why a maximum number of experiments?

Because your own biases and personal experiences are your worst enemy as a founder & product leader

โ€จ

๐Ÿ’ก G๐—ฒ๐˜ ๐—ผ๐˜‚๐˜ ๐—ผ๐—ณ ๐˜๐—ต๐—ฒ ๐˜„๐—ฎ๐˜† so your startup can bump into ๐™๐™–๐™ฅ๐™ฅ๐™ฎ ๐™–๐™˜๐™˜๐™ž๐™™๐™š๐™ฃ๐™ฉ๐™จ frequently

โ€จ

๐Ÿ‘‰ By an increasing number of experiments, you allow randomness to do its part

 

The entire universe runs on randomness. So trust it


 

 

 

Yearly, major enterprises conduct thousands of experiments. For them, thereโ€™s only a KPI that matters when it comes to innovation: the number of innovations per day, week, month, quarter, and year.

By increasing the number of experiments, the hope is to reduce the impact of our own biases, personal experiences, and background in the way of creating breakthrough solutions.

 


 

 

 

The topic of experimentation at scale is not a new topic. It has been practiced for many years. The first organization that leveraged greatly the power of experimentation was Edison Illuminating Company founded in 1880 by Thomas Edison the founder of the lightbulb.

Edison is famous for his absurd amount of failed experiments before inventing the light bulb.

 

 

Edison knew in order to come up with breakthrough innovation, he should

  • Prepare the environment
  • Persist through many cycles of failure i.e. gathering new data
  • Keep iterating based on the newfound evidence

 

 

 

The reason is experimentation plays a key role in today’s world of innovation is because our lives are changing at an increasing pace. A brilliant idea of today might seem outdated tomorrow.

In such an ethereal and fast-paced environment, the only way to make sense of reality and create new value by putting reality to the test constantly.ย 

Creating an experiment is like posing a question to nature. The more you ask, the more you know.


 

 

 

Experimentation is not about verifying your ideas. Itโ€™s a wrong mindset.

Experimentation is about learning new insights. And the key to experimentation is to have a variety of experiments for each. Some experiments should be outside of the box; some closer to the common practices.

If you donโ€™t dare to take risks, you donโ€™t learn anything new.


 

 

 

By experimenting you hope to shade on a hidden part of reality. To unearth insights that were unknown before. Itโ€™s like being in a dark room with a lot of hidden light switches. The more you turn, the clearer the picture of the room will be.


 

 

 

As an organization you need to get used to constantly experimenting with new ideas. The speed of your experimentation matters. If it takes you two weeks to set up a landing page, youโ€™re losing the game.

High-velocity experimentation is the name of the game in town.


 

 

 

Experimentation is the secret sauce of winning organizations in today’s global world. Jeff Bezos famously asked his team to present new ideas in the form of results of experiments.ย 

Donโ€™t just throw ideas at me. Test them first and show me the results.


 

 

 

Encourage your team to take more risks and experiment with their ideas on their own before running the ideas with you.

Encourage a self-starting culture in your organization and redefine the success KPIs of your organization to truly reflect on fast experimentation.

I hope you find this post useful. Share your thoughts with us at contact@bonanza.design

 


 

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