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Have you or your team ever come up with a big idea that you thought would be very cool, but didn’t take any action because you thought it would be too risky? Perhaps it was an idea for a new product or service, or a process change to solve a complex problem. Maybe you tried to bring the idea to life, only to have it turn out to be an expensive, time-consuming failure.
The new book The Innovator’s Method: Bringing the Lean Start-up into Your Organization, by Nathan Furr and Jeff Dyer, is a leader’s guide to validating new ideas, refining them, and bringing them to market. It presents a method for leveraging a set of tools emerging from lean start-up, design thinking, and agile software development.
Jeff Dyer’s previous book The Innovator’s DNA, co-authored with by Clayton Christensen and Hal Gregersen, is a bestseller, has already been published in more than 13 languages, and won the 2011 Innovation Book of the Year Award from Chartered Management Institute. Jeff is Professor of Strategy at Brigham Young University and Wharton. He is co-founder of the consulting firm The Innovator’s DNA, and he gives speeches, consults, and conducts training programs in the areas of innovation, change, and strategy. He is the only strategy scholar in the world to have published five times in both Strategic Management Journal (the top academic journal devoted to strategy) and Harvard Business Review (the top practitioner journal).
In this episode, Jeff and Jesse discuss:
- 2 types of uncertainty that influence a team’s ability to create customers
- Why traditional management taught in MBA programs does not work if you’re leading a team that faces radical uncertainty and needs to innovate
- 4 steps to solve high-uncertainty problems and turn insight into a successful innovation
- 3 tests to know when you’re ready to move to the next step
- How the turnaround of the software company Intuit demonstrates the new way of leading in a high-uncertainty industry
- How the startup of Rent the Runway, which applied the Netflix model to enable women to rent high-end designer dresses for one-tenth of the purchase price, demonstrates the method’s ability to reduce risk, cost, and time-to-market.
Resources Mentioned in This Episode
- Book: The Innovator’s Method: Bringing the Lean Start-up into Your Organization
- Forbes article: How Being a Good Manager Can Make You a Bad Innovator
- Website: TheInnovatorsMethod.com
- Twitter: @Jeffrey_Dyer
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