Your Strategic Partner in Idea Validation
Assess the true potential of your ideas
Worth it? is a powerful software innovation tool designed for evaluating the comprehensive worth of proposed Innovation Opportunities. Tailored to assess investments across various dimensions such as economic, personal, and reputational, this tool prioritizes forms of capital crucial to the success of your innovation. With a structured approach, "Worth it?" helps you identify and rank assumptions, providing a clear understanding of the multifaceted worth of your project.
Capital Prioritization Mastery
Uncover the secrets of prioritizing different forms of capital vital to your innovation opportunity with "Worth it?"
Assumption Explorer
Dive deep into assumptions and discover their impact on the worthiness of your innovation through the innovative "Is It Worth It" drill.
Multidimensional Worth Unveiled
Gain a comprehensive understanding of worth across Human, Financial, Intellectual, Political, Reputational, and Social capital with "Worth it?"
Strategic Validation Blueprint
Unlock a strategic roadmap to validate assumptions, prioritizing quick wins and long-term validations for your innovation success.
Your Strategic Partner in Idea Validation
Assess the true potential of your ideas
Enumerate the capital forms most relevant to this innovation opportunity: Human, Financial, Intellectual, Political, Reputational, and Social.
Step 2: Gather Assumptions
For each form of capital, list assumptions indicating the innovation opportunity is worth it.
Step 3: Define Worthiness Criteria
Establish criteria for what makes the innovation opportunity "worth it" regarding each form of capital.
Step 4: Evaluate Assumptions
Assess each assumption based on its potential impact and relevance to the specific form of capital.
Step 5: Prioritize & Strategize
Prioritize assumptions for validation. Identify quick wins and long-term validations that need to be conducted.
Tips: Be as specific as possible when defining assumptions.
Use objective data wherever available for better evaluation.
Involve multiple perspectives for a comprehensive view.
Drills included in this Next Tool
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Worthy or Not
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The Worthy or Not Drill is designed to help innovators identify and prioritize the forms of capital that should be the strategic focus of an innovation opportunity. By ranking and weighting these forms of capital, organizations can align their innovation initiatives more closely with their broader strategic objectives, ensuring that resources are allocated where they can create the most impact. When to Use This Drill • When introducing a new innovation opportunity to assess its alignment with the organization's capital priorities. • At the outset of a strategic planning or budgeting session to guide resource allocation. • Periodically during the innovation lifecycle to reassess capital priorities and adjust the focus as needed. Recommended For • Strategic Alignment: Ensuring that innovation opportunities are focused on building the most critical forms of capital. • Resource Allocation: Guiding decision-makers on where to allocate resources to maximize impact. • Innovation Teams: Helping teams prioritize their efforts based on the organization's capital-building priorities. Drill Objectives • To identify the relevant forms of capital for a particular innovation opportunity. • To rank and weight these forms of capital based on their strategic significance to the organization. Useful Inputs • Results from prior strategic drills, such as the Goalbuilder or Vision Purpose Values GPTs. • Insights from stakeholders or leadership on current strategic priorities. • Existing assessments of capital forms and their importance to the organization.
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Capital Converter
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The Capital Converter Drill helps organizations conceptualize and define a currency for each form of capital, enabling the comparison, allocation, and prioritization of resources in alignment with strategic objectives. By attaching tangible currencies and denominations to different forms of capital, you can make informed decisions that align with the serious capital-building priorities of creating, protecting, and liberating various forms of capital. When to Use This Drill • After completing the "Worthy or Not Drill" to build upon the prioritized capitals. • Prior to major strategic planning sessions where resources will be allocated. • When reassessing the organization's strategic direction and priorities. • During Step 2 of the Reverse Income Statement Drill to quantify investments in different forms of capital. Recommended For • Strategic Capital Allocation: Aligning resources with the organization's serious capital-building priorities. • Holistic Decision-Making: Ensuring that all forms of capital are considered and quantified. • Cross-Capital Comparisons: Facilitating the comparison of different forms of capital to guide resource allocation. Drill Objectives • To define a specific currency for each form of capital. • To establish clear denominations that provide tangible measures for each capital currency. • To determine exchange rates that reflect the relative values and priorities of different capital forms. Useful Inputs • Outputs from the ”Worthy or Not Drill” to understand which forms of capital are prioritized. • Strategic goals and priorities of the organization. • Insights from constituents on the relative importance of different forms of capital.
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Risky Business
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The Risky Business Drill evaluates the potential risks an innovation opportunity presents to various forms of capital. It provides a structured approach to identify, assess, and score risks, helping organizations understand and prepare for potential challenges associated with innovation efforts. When to Use This Drill • During strategic planning or resource allocation sessions. • When assessing potential risks of an innovation opportunity, especially during the early stages of the Next Cycle. • Periodically throughout the Next Cycle to recalibrate risk assessments based on evolving insights and contexts. • Prior to Super Seven Reviews throughout the Next Cycle. Recommended For This drill is particularly useful for the following Jobs to Be Done (JTBD): • Mitigating Risks: Leaders aiming to identify and mitigate risks associated with innovation opportunities. • Strategic Decision-Making: Teams needing to make informed decisions about which innovation opportunities to pursue or pause based on risk assessments. • Resource Allocation: Managers responsible for allocating resources to innovation projects, ensuring that risks are accounted for in budgeting and planning. • Portfolio Management: Next Board members managing a portfolio of innovation opportunities and needing to understand the risk landscape of each opportunity. • Innovation Readiness: Teams looking to assess and enhance the organization's readiness to manage and mitigate risks in their innovation processes. Drill Objectives • To systematically identify risks associated with the innovation opportunity. • To quantify and score these risks based on their potential impact and the probability of occurrence. • To derive a Capital Risk Score that captures the aggregate risk associated with the opportunity. Useful Inputs • Previous assessments of the innovation opportunity. • Insights from stakeholders, team members, and industry experts. • Data from similar projects or historical risk assessments.
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Promises Promises
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The Promises, Promises Drill systematically evaluates the potential contributions that an innovation opportunity might bring to various forms of capital. This includes both protective measures to safeguard existing capital and the generation of new capital. By identifying and assessing these contributions, organizations can better understand the potential benefits and value addition of their innovation efforts. When to Use This Drill • During strategic planning or resource allocation sessions to ensure alignment with capital-centric goals. • When weighing the advantages of different innovation opportunities. • At the outset of an innovation opportunity, to understand its alignment with capital augmentation and protection. • Before Super Seven Reviews in the Next Cycle. • Periodically throughout the Next Cycle to recalibrate contribution estimates based on evolving insights and contexts. Recommended For • Capital Augmentation: Leaders aiming to maximize the potential contributions of innovation opportunities to various forms of capital. • Strategic Decision-Making: Teams needing to prioritize innovation opportunities based on their potential value addition. • Resource Allocation: Managers responsible for allocating resources to opportunities that offer the greatest capital contributions. • Portfolio Management: Next Board members evaluating the overall value that a portfolio of innovation opportunities can generate. • Innovation Readiness: Teams assessing the alignment of innovation opportunities with strategic capital-building goals. Drill Objectives • To systematically identify potential contributions the innovation opportunity might make to various forms of capital. • To quantify and evaluate these contributions based on their magnitude and significance. • To derive insights that encapsulate the potential benefits and value addition across all forms of capital. Useful Inputs • Previous assessments of the innovation opportunity. • Insights from stakeholders, team members, and industry experts. • Data from similar projects or historical contribution assessments.
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Mind the Gap
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The Mind the Gap Drill explores the capital requirements associated with an innovation opportunity. It offers a structured approach to identify the capital needs, assess their significance to the opportunity’s success, and understand the complexity or cost of meeting them. The results provide an overview of potential gaps in the innovation’s capital structure, offering a roadmap to resource allocation and strategic decision-making. When to Use This Drill • In the early stages of an innovation opportunity to identify potential capital challenges. • When adjusting project scopes or seeking partnerships to fill capital needs. • Before resource allocation or fundraising activities. Recommended For • Resource Planning: Identifying and prioritizing the capital needs of an innovation opportunity to guide resource allocation. • Risk Mitigation: Understanding potential challenges and gaps in the capital structure that could impact the success of the innovation. • Strategic Alignment: Ensuring that the innovation opportunity’s capital needs align with broader organizational goals and capabilities. • Partnership Development: Identifying areas where external partnerships or collaborations may be necessary to meet capital requirements. Drill Objectives • Identify the various capital needs of the innovation opportunity. • Evaluate the importance of each need to the potential success of the opportunity. • Assess the complexity or cost associated with fulfilling each need. • Generate a comprehensive Capital Needs Score to inform decision-making. Useful Inputs • Initial assessments of the innovation opportunity. • Input from stakeholders and team members. • Historical data or benchmarks from similar innovation efforts.
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Total Impact
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The Total Impact Drill assesses an innovation opportunity’s potential impact on various forms of capital within an organization. It integrates insights from multiple previous drills to provide a comprehensive understanding of how an innovation opportunity will affect each form of capital. This drill helps innovators evaluate if innovation opportunities are "Worth It" by offering a unified Capital Impact Score that reflects the strategic alignment and potential value of the innovation opportunity. When to Use This Drill • Before Super Seven Reviews: Complete this drill prior to your Super Seven Reviews with the Next Boards to provide valuable insights into the state and potential of the innovation opportunity. It equips you with data-driven assessments that can facilitate more productive and targeted discussions. • After Small Bets: Recalculate your Capital Impact Scores after completing small bets that test super vital assumptions. This helps reassess and realign your focus and resources based on new findings and changes in the forms of capital. • Ongoing Decision-Making: Use this drill as an ongoing metric for decision-making as your innovation opportunity evolves. It’s especially useful when preparing to pivot, scale, or make other significant changes to the initiative. Recommended For • Strategic Alignment: Ensuring that innovation opportunities are aligned with the organization’s broader strategic goals and capital priorities. • Resource Allocation: Assisting in the prioritization of resources by evaluating the overall impact of an innovation opportunity. • Risk Management: Identifying and mitigating risks associated with the innovation opportunity by understanding its impact on various forms of capital. • Decision Making: Providing a clear, quantifiable metric (Capital Impact Score) to guide innovation-related decisions. Drill Objectives • To integrate various aspects of capital (risk, contribution, needs) into one unified score. • To assist in the evaluation of the worthiness of innovation opportunities. • To provide a holistic view of the innovation opportunity’s impact on the organization’s strategic goals and resources. Useful Inputs • Scores and insights from the Worthy or Not Drill, Risky Business Drill, Promises Promises Drill, and Mind the Gap Drill. • Strategic goals and priorities of the organization. • Input from key stakeholders and team members.
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Plan B, C, D, and E
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The Plan B, C, D, and E Drill helps innovation teams assess the flexibility, speed, scalability, and exit strategies for an innovation opportunity across multiple forms of capital—Human, Financial, Intellectual, Political, Reputational, and Social. This drill ensures the innovation opportunity can adapt to changing circumstances and provides a strategic view on its versatility. When to Use This Drill • After assessing whether an innovation is worth pursuing through tools like Worthy or Not, Capital Converter, or Risky Business. • During planning and budgeting phases to evaluate how resources can be flexibly allocated or adjusted. • When considering how to scale or pivot an innovation based on evolving market or organizational needs. Recommended For • Strategic Adaptability: Evaluating how quickly an innovation can scale, shift, or be exited based on organizational goals. • Risk Management: Ensuring that options to adjust, pause, or exit the innovation are clearly understood. • Capital Flexibility: Assessing how different forms of capital—human, financial, intellectual, political, reputational, and social—support the innovation opportunity. Drill Objectives • To evaluate the Flexibility, Speed, Scalability, and Exit strategies for each form of capital tied to an innovation opportunity. • To prioritize capital forms based on their potential to adapt and support the innovation under changing conditions.
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Op-at-a-Glance
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The Op-at-a-Glance Drill offers a comprehensive snapshot of a single Innovation Opportunity. It amalgamates vital data points and calculations, facilitating informed decisions for Next Innovators, Next Managers, and the Next Board. This drill is crucial for understanding the financial and strategic elements of an opportunity, ensuring that it aligns with the organization's serious capital-building priorities—creating, protecting, and liberating human, intellectual, political, reputational, social, and financial capital. When to Use This Drill • Prior to Next Board Meetings. • Before and after significant Next Cycle Steps. • During Super Seven Reviews. • Throughout budgeting and funding allocation phases. Recommended For • Strategic Alignment: Ensuring the Innovation Opportunity aligns with serious capital-building priorities. • Resource Allocation: Making informed decisions about funding and resources based on a holistic understanding of the opportunity. • Risk Management: Evaluating the risks and potential contributions of the opportunity to various forms of capital. • Capital Impact Assessment: Assessing how the opportunity impacts human, intellectual, political, reputational, social, and financial capital. Drill Objectives • Collate essential information about the Innovation Opportunity. • Gain insights into the financial and strategic elements of the opportunity. • Chronicle Super Vital Assumptions (SVAs) and their current statuses. Useful Inputs • Outputs from the Port-at-a-Glance Drill. • Previous reviews of the Innovation Opportunity. • Present funding distributions and financial metrics. • Details and roles of the Next Team.
Data-Driven Decision
Excellence
Elevate your decision-making process by incorporating objective data for evaluating assumptions, ensuring a robust foundation for your innovation journey.
Use Worth It?
Why use “Worth It?”
In a dynamic landscape, "Worth it?" stands as your indispensable ally, offering a structured approach to assess the true worth of innovation opportunities. By aligning with diverse forms of capital—Human, Financial, Intellectual, Political, Reputation, and Social—this tool equips you with a comprehensive understanding of what makes an opportunity worth pursuing.
Be it quick wins or long-term validations, this tool ensures that your innovation endeavors are not just ambitious but also backed by a solid foundation, making every pursuit undeniably "Worth it."
Easy to use: Follow simple steps to clear up uncertainties and plan the best actions for success.
