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- Herausgeber: Business Book Summaries
- Kategorie: Ratgeber
- Sprache: Englisch
The must-read summary of Peter Sims' book: "Little Bets: How Breakthrough Ideas Emerge from Small Discoveries".
This complete summary of the ideas from Peter Sims' book "Little Bets" shows that the best way to discover promising ideas is by placing lots of idea seeds and then building on those that work. In his book, the author explains how to use the "little bets" approach in six easy steps: experiment, play, immerse, define, reorient and iterate. This summary explains each of these steps in detail and proves that failed experiments are to be expected when trying something fresh and original.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your business knowledge
To learn more, read "Little Bets" and discover the easy approach that will help you to develop new business ideas.
Das E-Book können Sie in Legimi-Apps oder einer beliebigen App lesen, die das folgende Format unterstützen:
Seitenzahl: 36
Veröffentlichungsjahr: 2014
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Book Presentation Little Bets by Peter Sims
Book Abstract
About the Author
Important Note About This Ebook
Summary of Little Bets (Peter Sims)
Book Presentation Little Bets by Peter Sims
Book Abstract
MAIN IDEA
The best way to come up with brilliant new ideas is to discover them by placing lots of “little bets” on promising ideas. By planting lots and lots of seeds, you’re then positioned to build further on what works and drop what does not. If an experiment doesn’t work out, it’s not a major problem because you haven’t committed lots of resources to your development project.
This little bets approach to innovation suggests failed experiments are fine, they come with the territory when you’re trying to do something fresh and original. In fact, it’s better to fail fast while the stakes are low than to head down a blind alley which ends up costing you much more later on. By using an experimental, iterative, trial-and-error approach, you can gradually build a breakthrough and fine tune as you go along.
“Little Bets is based on the proposition that we can use a lot of little bets and certain creative methods to identify possibilities and build up to great outcomes. At the core of the experimental approach, little bets are concrete actions taken to discover, test, and develop ideas that are achievable and affordable. They begin as creative possibilities that get iterated and refined over time, and they are particularly valuable when trying to navigate amid uncertainty, create something new, or attend to open-ended problems. When we can’t know what’s going to happen, little bets help us learn about the factors that can’t be understood beforehand.”
– Peter Sims
“Most successful entrepreneurs, especially those who start businesses with limited capital, operate in this experimental way when trying new ideas. They think of learning the way most people think of failure.”
– Peter Sims
About the Author
PETER SIMSIS an entrepreneur. He previously worked as a venture capitalist with Summit Partners. He collaborates with faculty at Stanford’s Institute of Design. He is the co-founder of Fuse Corps, a social venture to encourage young entrepreneurial leaders to tackle some of society’s most pressing problems. He is also the coauthor of True North. Peter Sims is a graduate of Bowdoin College and Stanford Business School.
The Web site for this book is at www.PeterSims.com.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of Little Bets (Peter Sims)
1. Experiment
Experimenting is all about failing quickly so you can accelerate your learning. You try and fail forward by running lots of small experiments using low-cost prototypes to find what works and what doesn’t. The key, however, is to be learning from each experiment you run and not just to throw lots of staff at the walls and see what sticks.
The essence of experimenting is to avoid becoming wedded to your ideas early on. Instead, you try new things, track the data and figure out what’s effective and what’s not through hands-on experience. You learn from countless failures and that way gradually fine-tune what works and what does not in clear and vivid detail.
The whole idea with experimenting this way is you want to fail quickly so you can learn fast. Rather than strive for excellence before you ship, you make a rough prototype and get it into the hands of potential customers and see what they think. The advantages in doing this are numerous:
By getting a rough prototype product into the hands of customers, they can come back and suggest what features should be added and which should be dropped. You effectively draft your customers into your product development team.Early prototypes facilitate more experimentation. It’s easy to make changes to a $20 prototype but much harder to make substantial charges when you’ve invested $200,000 in making the prototype.
