Segment 7 (2021) - Validate or Implement

[Paul Terlemezian]

What is best for you, the idea, and those who will benefit from the idea?

• What is the purpose of validating an idea?
• How can it be validated in a manner that results in a better, speedier, less costly implementation?
• What is the purpose of implementing an idea?
• How can it be implemented in a manner that results in a better, speedier, less costly implementation?
• What other factors need be considered?
• What examples make your point?

Humorists:

• Richie Cullom
• Steve Martin

Panelists:

• Troy Buckholdt
• Chris Kopp
• Pete Mastin
• Alexandre Poulin
• Jerry Sutton

Moderators:

• Eric Bluestein
• Doug Dell

Remarkable Speakers (Listeners:)

• Hari Kunduru
• Larry Mohl

[Eric Bluestein]

Great questions Chris. 

Lots of people suffer from "paralysis" for implementation. It's hard to put your ideas out there and risk criticism. But, as the writing comment that writers told me: writing a script or book and leaving it in a drawer does nothing. 

Looking forward to it tomorrow. 

[Pete Mastin]

My Contention is that if you break down the "importance" of Idea Vs. Execution - that you end up somewhere around Execution being 70% important. While the strategy (the idea) has to be sound - MOST companies fail because of execution. 

So it's very important to get to execution rapidly. That being said - Strategy can and will sink the ship. So my focus will be to explore the minimally viable attributes of the strategy that can be evaluated to understand a go/no-go decision on Execution (development). The conversation should evaluate: 

Market for product

Partnerships/Channels (y/n) 

Development effort

Route to Revenue 

COGS 

etc.. (Whatever else is important in understanding the value of the idea) 

How can a team rapidly evaluate these to determine the correct course of action. 

[Chris Kopp]

Wow...Richie Cullom is going to be one of our humorists??

Who's this Steve Martin guy?

[Paul Terlemezian]

Steve Martin practically got down on his hands and knees begging me me to be part of the same segment with you and Richie...well maybe not practically...well...not yet anyways....

[Jerry Sutton]

So let's take a little deeper dive.  Let's say your idea is "technology-based".  Every component of your idea includes technology that has already been "validated" or proven.  There is ample qualitative research data to support the technology you would use, but research data to support your idea or new form of technological implementation is lacking.  Do we rely on proven data and hope that it carries over into a conceptual implementation?  Or do we take the next step and build a model which will showcase the implementation?  How much should demand drive funding support?  Do we need to have a clear demand or can we present a hypothetical demand based on the successful implementation of a technically unvalidated model?

[Paul Terlemezian]

..and then along comes a pandemic...which we could not anticipate....but to which we must respond...as leaders. We are not likely to see another pandemic soon...yet something unanticipated is likely to occur...how do we assure our ability to adapt?