Opportunity-driven Business Development:

Rapid Experimentation

A Method for Rapid Experimentation

Experimenting With Emerging Business Opportunities and Learning from Market Feedback

Adapted from Changing Strategic Direction, Peter Skat-Rordam


How To Discover Opportunities

The virtuous circle
Experimentation should be based on a common sense: taking the first step; learning from feedback; taking corrective action; taking the next step; and so on.

Don't make the first step too difficult
The starting point for
entrepreneurial experimentation is to define and plan the first
actionable step. Don't suffocate opportunities by subjecting them to bureaucratic approval procedures and planning demands. It is not fruitful to begin opportunity experimentation by drafting a business plan. This is, in any event, impossible in any meaningful sense when a project leads into the unknown. Nevertheless, healthy thinking about how to get started is useful.

Develop an initial action plan
The process could begin with a
brainstorming session, listing potential experimental activities. For example, the team could write a short paper outlining the results of an opportunity-visualization exercise, any proposed initial action, and the resources required. The purpose in all this is to gain experience necessary to support the validity of the opportunity."

During and after implementation of the first step, review the experience in relation to

  1. any project assumptions (which may lead to adjustment of the idea)

  2. where to go with it, and

  3. the potential next steps.

Define the implementation milestones
Your team should then decide what the next major step will be, and start planning the activities involved.

Review and improve the original idea
The original idea seldom remains the one that is successfully implemented. As it might be difficult for its originator(s) to accept this, external review is important to make the necessary modifications.

Get blessing of stakeholders
Both formal and informal review meetings with stakeholders, where the idea itself and the progress is achieving it are challenged, are useful. The team should produce a proper business plan once the project has matured and the commitment of resources begins to increase.

Business Synergies Approach To Project Management


Entrepreneurial Leader: 4 Attributes

Strategic Thinker

COCA Principle of Achievement


3 Strategies of Market Leaders

Venture Strategies

Surprise To Win

Strategy Innovation

Blue Ocean vs. Red Ocean Strategy

Innovation Football

9 Questions for Great Customer Success


Opportunity-driven Business Development

Uncover the Iceberg of Opportunities

Searching for Opportunities

Asking Searching Questions

Discovering Opportunities

Top 10 Tips

How To Discover Market Opportunities

Turn Problems to Opportunities

Turning Problems To Opportunities

Turn Failures To Opportunities

Pursuing Opportunities

3Ss of Winning in Business


Rapid Experimentation and Beta Testing

Alpha Testing and Beta Testing

Beta-Testing a New Product

New Market Learning Methods

Learning SWOT Questions


Fast Decision Making

Fast Decision Making Techniques

Reassessing Past Decisions


SWOT Analysis

SWOT Analysis for Start-Up Firms