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Let’s talk about risk

December 18, 2020 by Luke Szyrmer Leave a Comment

Earlier this week, I was on the Yeukai Business Show talking about risk management in the context of startups. Yeukai was a great discussion partner, and pulled a lot of stories out of me. This is probably the more “storified” version of my work on risk management and experiments. As someone who spent 15+ years in financial markets and now almost 10 on innovation, I wanted to share the key learnings.

Filed Under: assumptions, Estimation, podcasts, unknown unknowns Tagged With: existential risk, market risk, process risk

Your new product’s key milestones

December 15, 2020 by Luke Szyrmer Leave a Comment

How to budget for innovation

October 16, 2020 by Luke Szyrmer Leave a Comment

This week I just wanted to draw your attention to an old article on Harvard Business Review about budgeting in established companies for innovation.

Here, on average, is what they estimated they were currently spending: 85% of their resources on day-to-day operations 5% on incremental improvements that produced faster, cheaper, better sameness 5% on small sustaining innovations 5% on big, disruptive innovations When we asked the managers what a better proportion might be, their answers were: 75% on day-to-day operations 5% on incremental improvements 10% on sustaining innovations 10% on big, disruptive innovations.

Personally, I find this intuitive, because of asset allocation is part of my background in finance. In situations of partial randomness, like in the financial markets, the amount you allocate defines your expose to particular risks and profit drivers.

Filed Under: assumptions, innovation, release planning, Risk Tagged With: market risk, process risk

Why the Launch Tomorrow process actually works

September 11, 2020 by Luke Szyrmer Leave a Comment

Recently I showed up on the Predictable B2B Success podcast. Vinay interviewed me. He originally worked with Dan Norris as his content guy, and is now running a content repurposing agency.

Filed Under: assumptions, innovation, Risk, unknown unknowns Tagged With: case study, founder market fit, hero canvas, market risk, principles, prioritization

Why Founder Market Fit Matters…A Lot

September 3, 2020 by Luke Szyrmer 1 Comment

Back in the day, I was looking into entering the weight loss market with a SaaS solution or coaching services. In theory, it sounded like a great idea. I based it on a “signature success” story of my own. Based on that success, I thought I could provide value, help others achieve the same. But I overlooked the importance of founder market fit.

What I didn’t consciously realize was that most of that actual market was very different from me. I was a young, somewhat nerdy guy, the type of guy who got excited about techie stuff and spreadsheets. And that’s how I achieved what I did in the context of weight loss.

Filed Under: assumptions, innovation, Risk, unknown unknowns Tagged With: founders, market risk, product market fit

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  • About Luke

    Luke Szyrmer is an innovation and remote work expert. He’s the bestselling author of #1 bestseller Launch Tomorrow. He mentors early stage tech founders and innovators in established companies. Read More…

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