Now That You Have a Concept, Should You Make or Stake?
Many of the clients we work with face an all-too-familiar scenario: they’ve created a robust process for generating a number of high-potential opportunities to drive growth, yet the path to build those high-potential opportunities isn’t well paved. In fact, it has some deep potholes that remind teams of past projects that sunk too many valuable resources into them before ultimately failing.
So what can be done to increase odds of success when it comes time to build out a high potential project? Rather than taking a black and white, kill or all-in approach, innovation teams can be savvy about using what already exists (in third-party solutions) and combine those things with their organization’s unique capabilities in order to test their new value proposition, inexpensively.
We refer to engaging third parties as staking, and believe it’s a resource efficient means to help teams complete their experience while still placing small bets and learning fast. Interested in learning about how to do it?