What are the possible failure scenarios and how can they be corrected?
Posted: Mon Jan 06, 2025 6:21 am
Thanks to step-by-step processes, customer research, MVP testing, testing hypotheses for product promotion and successful personnel decisions, the project broke even in the third month, and after another 3.5 months it began to generate income.
This example showed that even small but correctly bulgaria whatsapp phone number directed investments can lead to significant changes. Launching a startup within the company allowed not only to expand the portfolio of services and create additional sources of income, but also to give employees opportunities for professional and career growth.
This launch added to the collection of successfully opened directions and inspired other specialists to offer their ideas more actively. As a result, we launched a school - an internal educational course for packaging your own ideas.
During the course, invited and internal trainers teach how to formalize a business idea, calculate ROI, analyze the market and test niches, package an MVP, etc.
How to protect yourself from risks when selecting strategic initiatives
The management team's experience allows us to more accurately select "projects that will take off." However, we cannot be 100% sure that all initiatives will work. Therefore, we reinvest only a certain share of our income into experiments so that failures do not put the company at risk. In any case, even if a project fails, the project team will gain valuable experience, take into account the mistakes, and next time come up with a more thoughtful proposal.
In cases where the idea has worked partially, the management team together with the owner finalizes the plan, evaluates what can be improved, and thinks about what steps to take to achieve the final goal. We are ready to help, because we are interested in the success of the project, as is the initiator.
If, after making changes and fixing bugs, the project still doesn't work, the management team stops funding it and closes the initiative.
In this case, the employee does not have to return the money - this is part of the risk we take when supporting startups within the company. However, in the future, when submitting new initiatives, the management will more carefully evaluate proposals, taking into account the previous background of the initiator.
On the topic. Lateral Thinking in Business: The Key to Innovation and Solving Complex Problems
This example showed that even small but correctly bulgaria whatsapp phone number directed investments can lead to significant changes. Launching a startup within the company allowed not only to expand the portfolio of services and create additional sources of income, but also to give employees opportunities for professional and career growth.
This launch added to the collection of successfully opened directions and inspired other specialists to offer their ideas more actively. As a result, we launched a school - an internal educational course for packaging your own ideas.
During the course, invited and internal trainers teach how to formalize a business idea, calculate ROI, analyze the market and test niches, package an MVP, etc.
How to protect yourself from risks when selecting strategic initiatives
The management team's experience allows us to more accurately select "projects that will take off." However, we cannot be 100% sure that all initiatives will work. Therefore, we reinvest only a certain share of our income into experiments so that failures do not put the company at risk. In any case, even if a project fails, the project team will gain valuable experience, take into account the mistakes, and next time come up with a more thoughtful proposal.
In cases where the idea has worked partially, the management team together with the owner finalizes the plan, evaluates what can be improved, and thinks about what steps to take to achieve the final goal. We are ready to help, because we are interested in the success of the project, as is the initiator.
If, after making changes and fixing bugs, the project still doesn't work, the management team stops funding it and closes the initiative.
In this case, the employee does not have to return the money - this is part of the risk we take when supporting startups within the company. However, in the future, when submitting new initiatives, the management will more carefully evaluate proposals, taking into account the previous background of the initiator.
On the topic. Lateral Thinking in Business: The Key to Innovation and Solving Complex Problems