Currently, one of the things I am trying to do on our new MedTech venture is to build a roadmap of experiments to run before we get to the MVP itself.
Why am I doing that, you may want to ask?
Because I think it is super important to do whatever it takes to make sure that we can deliver some sort of tangible value from day 1 with our MVP. Nonetheless so because we’re in MedTech and because we’re dealing with a serious medical issue. We simply need to get it right.
But also because I think it makes overall sense as an approach. In fact I think it might even make better sense than to work on a more regular product roadmap at this stage.
Simply because at the stage we’re currently at there are so many unknowns and associated assumptions about where we might take this that the most robust roadmap, we can have, is the one articulating what we don’t know and thus need to find out more about.
But does that make it easier to do a roadmap of experiments than a more normal product roadmap?
After all there are a ton of different experiments, you can run at any given point in time, and the trick is to figure out – or at the very least have an idea – which ones are going to give you most bang for the buck at any given moment in time. And where you take it from there – depending on how the experiment goes.
It’s a super interesting exercise in doing a blueprint for your activities while trying to make sure that you get to that ultimate goal of the experiment series; feeling pretty confident – on a data based basis – what should go into the MVP and hopefully set you off on a good trajectory for startup success.
Even the best and brightest ideas should start small on the implementation side. Just out of respect for the fact that you could have it terribly wrong. Especially if your opportunity is huge, you need to be mindful that you don’t run the risk of creating a big mess by overreaching from the ‘go’.
Naturally, if you are developing a brand new and hugely innovative service or product, the world has never seen before and thus not know it needs, you will think differently about it. My point is just that those invention cases are the outliers. Most of the time you will be trying to improve on something already out there.
Moving in smaller steps doesn’t kill your opportunity. Because of course you have a flexible roadmap that will adapt as you move along and learn more. And because you learn and show respect you will gain trust of those you are trying to serve. And that trust will serve you well when getting to the point where you start reaping all the good stuff you have sowed.
Yesterday I met with an former colleague who stepped down from a C-level job to essentially become a landlord renting out spare rooms in his house and making a nice flexible living doing so. It was very inspiring – and surprising.
We took a walk, and he ‘walked’ me through his business and how he operates it. How he essentially tests every little twist and turn with his guests in order to figure out what works and what doesn’t. And how he always keeps his eye on the operational aspect of it all making sure that the operation is as automated as it can get and relies as little as possible on him actually being there to take care of things.
The operational aspect was mindblowing; always staying one step ahead thinking about everything making sure that what you do is manageable from an operations point-of-view – not making it too complex in the process. The idea is fascinating and intellectually stimulating, and I think there is a lot of value to be had there for start-ups by thinking along the same lines to make things efficient, reduce burn-rate etc. I will definitely be working more on that.
This website is getting a revamp. It will be all from scratch again. One experiment at a time.
From May 1 2019 and onwards, you can expect Tumblr-style (in)frequent blogging here. A mix of experiences experimenting, sharing of links on experimentation to develop new (juggernaut) businesses and what else, I can think of as relevant.
The form will be short. And hopefully sweet. Maximum 3 paragraphs of text. And on that note: I’ll be back!