Think of it like building a house.
Without a blueprint, you're just stacking bricks.
You need to know what the perfect house looks like first.
Then, you start building, brick by brick, checking with your plan.
When I started helping corporate ventures, I focused on spending the least amount of time in preparation mode (sketching a Lean Canvas in 20 minutes) and wanted to go outside as quickly as possible.
Like startups do.
After the experiment, I would analyze what I did and set up a new experiment.
I've gradually changed my mind on this process for corporate ventures.
First, I want to sketch a sound model (it doesn't take weeks; it just takes half a day).
The sketch includes a Plan A (Lean Canvas) and a Unit-Case.
These models contain all the assumptions you test against.
They are like the blueprint for building your house.
They guide you, step by step.
If you can't prove these models, killing the project is easier.
A startup needs to find a way to gain traction quickly.
A corporate venture needs to validate or invalidate a strategic path and its feasibility as soon as possible; That's why testing against a model makes way more sense.
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Don't create unicorns,
Let's breed blue whales. 🐋