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 the innovation opportunity. By ranking and weighting these forms of capital, organizations can align their innovation initiatives more closely with their broader strategic objectives. 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. 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.
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Capital Converter
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The Capital Converter Drill assists you in conceptualizing and defining a currency for each form of capital. By attaching tangible currencies and denominations to different capital forms, organizations can compare, allocate, and prioritize resources in alignment with strategic objectives. 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. Drill Objectives • Define a specific currency for each form of capital. • Establish denominations for each capital currency. • Determine the exchange rate between different capital currencies.
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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 • When preparing for 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. 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.
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Promises Promises
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The Promises Promises Drill systematically evaluates the potential promising 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 derive a clearer understanding of 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. 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.
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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. 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.
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Total Impact
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The Total Impact Drill assesses an innovation opportunity’s potential impact on capital. It integrates insights from various 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.” When to Use This Drill Use this drill at multiple stages as your innovation opportunity progresses through the Next Cycle. It serves as an ongoing evaluative tool for the team and stakeholders: • Before Super Seven Reviews: Completing this drill prior to your Super Seven Reviews with the Next Boards will 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: Upon the completion of small bets that test super vital assumptions, recalculating your Capital Impact Scores is crucial. This will help you to reassess and realign your focus and resources based on new findings and changes in the forms of capital. • Ongoing Decision-making: Beyond these specific milestones, consider using this drill as an ongoing metric for decision-making as your innovation opportunity evolves. It can be especially useful when preparing to pivot, scale, or make other significant changes to the initiative. By timing the use of this drill effectively, you can maximize its utility in guiding your innovation journey and determining the worthiness of opportunities in each of your Next Portfolios. 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.
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Plan B, C, D, and E
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The Plan B, C, D, and E Drill evaluates an innovation opportunity’s various option values (Flexibility, Speed, Scale, Exit) across different forms of capital (Human, Financial, Intellectual, Political, Reputation, Social). This evaluation helps teams understand the versatility and adaptability of an innovation opportunity across these forms of capital. When to Use This Drill Use this drill after you’ve: • When assessing the strategic adaptability of an innovation opportunity across different forms of capital. • When considering scaling or pivoting your innovation. • During the planning and budgeting phases to allocate resources more effectively. Drill Objectives • To understand the flexibility, speed, scale, and exit option values for each form of capital associated with the innovation opportunity. • To prioritize forms of capital that offer higher option value.
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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. 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 Drill Objectives • Collate essential information about the Innovation Opportunity. • Gain insights into the financial and strategic elements of the opportunity. • Chronicle Super Vital Assumptions and their current statuses. Helpful Inputs • Outputs from the Port-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.
