RAPIDLY GROWING BUSINESS EMERGING BUSINESS FOCUS: OUTPUT: EXECUTING TO DEFEND, EXTEND, AND INCREASE PROFITABILITY OF EXISTING BUSINESSES ANNUAL PLANNING AND FORECASTING; DETAILED PLANS FOR GROWTH THROUGH ADJACENCIES RESOURCING INITIATIVES TO BUILD NEW BUSINESSES BUSINESS BUILDING STRATEGIES: INVESTMENT, BUDGET, DETAILED BUSINESS PLANS FOR NEW VENTURES UNCOVERING OPTIONS FOR FUTURE OPPORTUNITIES AND PLACING BETS ON SELECTED OPTIONS DECISIONS TO EXPLORE; INITIAL PROJECT PLAN, PROJECT MILESTONES SOURCE: BAGHAI, COLEY, WHITE ≠ ≠
TRADITIONAL PRODUCT MANAGEMENT FOR HORIZON 1 PROJECTS IDEA SCREEN SECOND SCREEN GO TO DEVELOPMENT GO TO TESTING GO TO LAUNCH G ATE 1 STAGE 1 G ATE 2 STAGE 2 G ATE 3 STAGE 3 G ATE 4 STAGE 4 G ATE 5 STAGE 5 SCOPING BUILD BUSINESS CASE DEVELOPMENT TESTING & VALIDATION LAUNCH PROCESS INNOVATION
TRL 6 TRL 7 TRL 8 TRL 9 BASED ON NASA/DOD TRL TECHNOLOGY READINESS LEVEL • Formal way to assess technology project maturity • Quantify relative risks • Data driven • Adopted by NASA, DOD, FAA, ESA and so on… • Introduced in 1974 by NASA JPL • Also see: http://www.wikiwand.com/en/Technology_readiness_level
is the United States government agency that supports fundamental research and education in all the non-medical ﬁelds of science and engineering They decide which public scientiﬁc research projects will get federal funding for commercialisation in the US with an annual budget of $7 Billion.
Most applicants their accelerator program iCORPS were getting were not fundable by their standards of readiness. The NSF is as science-oriented as one can get, so they wanted to experiment with improving their fundability rate by providing the applicants with a ﬁtness program before they could apply and get the data, the scientiﬁc facts, on how these applicants would perform compared to the baseline of normal applicants not taking the ﬁtness program to see if there would be a difference, if at all. So the NSF started requiring applicants to take the Lean Launchpad as a prerequisite, as a ﬁtness program, before applying to their NSF iCORPS accelerator.
came in, they found that the previous fundability rate of 18% of all applicants without the Lean Launchpad improved to a massive +60% of fundability of the teams that had taken the Lean Launchpad as a pre-accelerator ﬁtness program. The science is in; By using the Lean Launchpad as a pre-accelerator program, The National Science Foundation managed to improve their dealﬂow with signiﬁcant 44% hike in fundability and has now been turned into law.
9+ IRL 7-8 WEEKS MONTHS G ATE 1 G ATE 2 G ATE 3 G ATE 4 G ATE 5 PROBLEM OR NEED- FIT STAGE SOLUTION- FIT STAGE PERPETUAL DAYS PRODUCT- MARKET FIT STAGE COMPANY BUILDING STAGE CUSTOMER CREATION STAGE PEOPLE- IDEA FIT STAGE MANAGEMENT TOOL + INNOVATION READINESS LEVEL KPI (IRL) YEARS TIME & QUALITY RISK & QUANTITY DEALFLOW • SPIN IN? • SPIN OUT? • KILL? • EXTEND? CYCLIC RINSE LATHER REPEAT PRE-ACCELERATION ACCELERATION GENERATION EDUCATION SELECTION FINAL DECISION SCALING UP DISCOVER EXPLOIT VALIDATE EXPLORE VET IDEATE