Why Business Cases Suck and How to Fix Them
Tristan Kromer
as recording during on 20 May 2021 as part of Innov8rs Connect Unconference.
The finance teams want a business case. But Innovation teams don't want to commit to numbers because they are just guesses. But at some point, we have to size the market and make a bet. That means building a business case that can actually deal with uncertainty.
Innovators and the finance team need to come together to help map qualitative data into concrete business cases that can be used to make go / no go decisions. Even early stage projects can create simple, understandable financial models in as little as an hour. Those models can serve to focus the type of experiments and research the team needs to do to prove out a good investment.
This session walked through how to create a financial model from a blank sheet to a more robust monte carlo analysis and showed how that links back to validating business cases with design thinking and lean startup methods.
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About the speaker
As a lean startup coach and founder of Kromatic, Tristan Kromer works with innovation teams and leaders to create amazing products and build startup ecosystems.
He has worked with companies from early stage startups with zero revenue to enterprise companies with >$1B USD revenue (Unilever, Swisscom, Salesforce, Fujitsu, LinkedIn). With his remaining hours, Tristan volunteers his time with early stage startups and blogs at GrasshopperHerder.com.
