I am really excited about the current energy around innovation in general and startups in particular. For me, one of the best ways to learn something is to attempt to distill it into a visual summary. I hope this will be useful for you too. One of the powerful things about creating a visual version of an idea is that it gives something tangible to discuss—”No that should connect to that,” “The sequence of that process is out of order,” “You’re missing X,” etc. So consider this a starting point, and feel free to chip in your ideas about how to best express whatever idea I am trying to distill.
This visual summary is based on my interpretation of the “Build, Measure, Learn” concept as expressed by Eric Ries in his book The Lean Startup. He defines a startup as a venture which is creating a product or service in an environment of extreme uncertainty. To maximize chances of success in such an environment, the lean startup needs to create learning process where it can learn what works and what does not as rapidly as possible, engaging in a “Build, Measure, Learn” cycle. To go deeper, check out Eric’s book The Lean Startup here. Stay tuned for more Innovation Illustrated installments based on books and concepts gleaned from a variety of innovation thinkers.
Love to hear feedback or thoughts on this or other installments of Innovation Illustrated.