\u201cWhen experiments reach diminishing returns; it\u2019s time to Pivot\u201d.<\/em><\/p>\nQuestions<\/h2>\n
Q – re leadership of the business; why don\u2019t you mention the directors?<\/p>\n
A – masses of advice on that. It\u2019s more about the process and the environment that they work in.<\/p>\n
Q – re e-commerce; what does MVP look like?<\/p>\n
A – inventory is about satisfying demand. Building up inventory in advance of a sale is not a good plan. Start with a very small number of early adopters. Apologies and take pre-orders.<\/p>\n
Q – why should I listen to this – what have you built that\u2019s successful?<\/p>\n
A – argument by case study. The point of a framework is that it makes predictions – start with one concept and see what happens – make predictions and test. Do it for yourself and see what works.<\/p>\n
Q – re scaling. How do you implement a MVP?<\/p>\n
A – take one idea; try to get a competitor to steal it. \u2018We should be so lucky!\u2019. Big companies have plenty of ideas – but they can\u2019t implement. If you can\u2019t out iterate them – shame on you.<\/p>\n
Q – stuff gets released that people don\u2019t really want.<\/p>\n
A – it\u2019s about batch size. Think manufacturing. Apply it to software development. Cluster immune system.<\/p>\n
Q – re Investors and their attitudes. How do they react?<\/p>\n
A – Not easy to sell to investors. It\u2019s difficult. We pivoted to a better product. A few of our investors understood what we were trying to do as a micro-scale experiment. And we knew what the inflection points were caused by. It\u2019s a tough sell. \u201cDon\u2019t pitch the buzzwords – pick the results.\u201d<\/p>\n
\u2018There is zero penalty for shipping the MVP too early.\u201d<\/p>\n
Q – from a big company guy from an established brand. What are the challenges of getting big companies to change their ways\u2019<\/p>\n
A – The challenge is to get them to change the accountability. Start something that doesn\u2019t need the corporate brand. Reverse the thinking – needs to come down from the top. Middle managers get paid to \u2018make the quarter\u2019 – and they kill innovation.<\/p>\n
Q – What are you going to do next?<\/p>\n
A – I have no idea. Something to do with the short term nature of public markets. Targets are part of the problem. We need a long term stock exchange. Needs full-on ecosystem reform.<\/p>\n
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