David J. Bland set out to help fix a problem that seven out of ten products face: their failure to deliver on expectations when they launch.

David believes that systematically testing new business ideas will dramatically reduce the risks that products face when entering the market. As co-author of Testing Business Ideas: A Field Guide for Rapid Experimentation, he helps organizations test business ideas using design thinking, lean startup methods, and business model innovation.

He shares why testing is important, what you should be testing, and how to get it done.

David Bland’s talk as recorded during Innov8rs Connect – Business Design & Venture Building. Check the summaries from all talks in the event playbook. Free download via https://innov8rs.co/get-playbook-bdvb/

Why You Need to Test

To understand the importance of testing, David shares the story of the now-infamous startup Juicero.

The company behind the juicer raised $118.6 million to make the machine, which initially retailed at an eye-watering $700-800. The idea was users inserted specially-designed packets into the Juicero machine, which then squeezed out fresh, high-quality juice. When you raise that much capital, though, you run the risk of making extravagant design choices that don't add customer value. That's what happened to Juicero.

The company founder bragged that the motor within the juicer was strong enough to lift a Tesla. That sounds impressive, but it's not something you really need in your juicer.

The big problem came when people discovered that they could simply squeeze the juice packets themselves without the use of the expensive, powerful juicing machine. So why pay for the machine when you can just squeeze a bag? Consumers didn't need the machine, and the company flopped. That's why you can now find these juicers on the shelves of thrift shops.

Testing can help you avoid this sort of business disaster.

It's about making actionable plans to test the feasibility, desirability, and viability of a business idea or product.

To read the full summary of David's talk, download the Innov8rs Connect - Business Design & Venture Building playbook via the button below.

Playbook Innov8rs Connect - Business Design & Venture Building

Get all summaries of 16 sessions from our recent online event Innov8rs Connect Business Design - Venture Building on 12-13 May 2020 in one 90+ pages Playbook.