EPISODE C6.009 Finalize Reinvention Initiatives for Beta Test

RESULTS RADIO..."Let's Grow Together"

Introduction
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Show Objectives - The Why
Well the talking is over and it's game time - time for you to make a decision. Your Agile Team working on the Discovery Phase has finished their research and are ready to provide recommendations for your decision. I know you have them the list we will discuss in segments 3 & 4 - just make sure that when they report out and provide you with paper - their answers are clear.

Key Issues - Owner/Manager Perspective:

1. Review sprint team's report on initiative options.
2. Weigh potential ROI vs risk - how much risk are you willing to take?
3. Examine all of the assumptions and examine one more time.
4. Check with customers part of the reinvention - has anything changed.
5. The degree of match with current cor competencies.

What You Need to Know - The What​

• ​EPISODE C6.007 CREATE PRELIMINARY REPORT ON REINVENTION INITIATIVES

​What You Need to Do​​ - The How
Evaluate each opportunity:

1. What is the size of the market opportunity.
2. How easy is it to segment that market?
3. How many competitors are in that space" What is the probability of becoming #1 or #2? How long with it take to gain market leadership?
4. What is the Lifecycle of the product or service - how long before a revision or replacement is required?
5. What price should we select and where does that place us relative to the competition?
6. What is the total cost to build, test, improve, and market the new product or service?
7. How long before we reach the break even point - when will the investment be paid back?
8. How much revenue should we generate over the Lifecycle of the product or service?
9. Given the difficulty of building, testing, improving, marketing the new product or service in the targeted market - how would you rate the risk of failure - low, medium, or high - and why?
10. Rank order the initiatives by:
    1. ROI - best to worst
    2. Cost - least to most
    3. Break Even Point - best to worst
    4. Failure Probability - least to most
11. Make a preliminary decision and then talk with prospective customers.
12. Finally it's your call.

Shows

• Previous: EPISODE C6.008 TEST REINVENTION IDEAS WITH EXISTING ACCOUNTS
• Next: EPISODE C6.010 Investigate and Update Branding & Value Proposition