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Testing Business Ideas
368 pages, 2019
7 out of 10 new products fail to deliver on expectations. Testing Business Ideas aims to reverse that statistic. In the tradition of Alex Osterwalder’s global bestseller Business Model Generation, this practical guide contains a library of hands-on techniques for rapidly testing new business ideas.
Testing Business Ideas explains how systematically testing business ideas dramatically reduces the risk and increases the likelihood of success for any new venture or business project.
It builds on the internationally popular Business Model Canvas and Value Proposition Canvas by integrating Assumptions Mapping and other powerful lean startup-style experiments.
Alexander Osterwalder emphasizes the importance of testing business ideas before fully implementing them. He suggests that by doing so, you can save time, money, and resources that might otherwise be wasted on unsuccessful ventures. So, before you jump into a new business idea, take a moment to test it out.
The book introduces the concept of the Business Model Canvas, a tool that can help you visualize and understand your business model better. Osterwalder encourages readers to use this tool to map out their ideas and see how they might work in the real world.
One of the key takeaways from Testing Business Ideas is the importance of managing risks. The author explains that every business idea comes with its own set of risks and it's crucial to identify and manage these risks early on. This way, you can avoid potential pitfalls and ensure your business idea has the best chance of success.
Osterwalder stresses the value of experimentation in business. He believes that by experimenting with different ideas, you can find the best solutions and strategies for your business. So, don't be afraid to try new things and see what works best for you.
Finally, the book teaches us that failure is not the end, but rather a learning opportunity. If an idea doesn't work out, it's not a total loss. Instead, you can learn from the experience and use it to improve your future business ideas. So, don't be discouraged by failure, but see it as a chance to grow and improve.