Sometimes you have a great idea for a new product feature or an innovative way to serve your customers, but you don’t have the data to back it up. Try demonstrating the importance of your idea by doing a “stealth” project as proof of concept. Run a small pilot project to test your hypothesis about the need. There are risks to this approach, of course. You might annoy people, for example, particularly if you’re spending funds meant for other projects. Keep your project lean and focused—and frame it as a fact-finding experiment. Know what you want to learn, and spend only as much money as it takes to do that. Get your answer, and get out. You may discover that the business need isn’t so great after all—so be prepared to abandon your idea.
Adapted from the
HBR Guide to Building Your Business Case eBook + Tools.
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