Shift Portfolio Mix
- Rigorously place your projects on the Innovation Screen.
- Invest more in Pearls to accelerate their development.
- Since there typically are too many Bread & Butter projects, reduce clutter by eliminating some of the low-potential ones.
- Reformulate White Elephants as Oysters, where possible (there are often big ideas hidden inside of small ones). For those White Elephants where it’s not possible, kill them.
- Invest in more Oysters. Relentlessly kill the ones that fail.
- Define one or more big visions for the project, even those that may be a little unrealistic.
- Identify proof points: what evidence would you need to see to believe the vision is achievable? Look at the problem outside-in, staying away from your areas of strength.
- Assess the difficulty (probability of success and required investment) of demonstrating each proof point. Order the proof points from hardest to easiest to demonstrate.
- Start with the hardest. Construct a learning plan to deliver evidence on the hardest proof points as cheaply and quickly as possible.
- As the learning plan delivers each proof point, double down. If a learning plan fails to deliver a proof point, abandon it or pivot it to an alternative vision.
Profitable Pivots at MindXchange
- Exploit Upside Factors
- Dynamic Portfolio Focus
- Shift Portfolio Mix
- Learning Plans