83. How tech companies bring new ideas to life

If you have an idea for a new product in a traditional business, you will probably have to work on an extensive plan before you do anything else.

This is not how it works in tech companies. When the likes of Airbnb and Slack bring new apps or features to market, they use the Sprint Method. It is a methodology developed by Google Ventures to bring new ideas to life and test them quickly and cheaply.

Learn how this works in this podcast.

Learning notes from this episode:

• The aim of a sprint is to test an idea for a new product to find out whether it is worth investing more money in. For example, you can use a sprint to test an idea for an app by creating a prototype. If users like what you’ve made, only then should you hire developers.
• Each sprint should focus on one idea to test. Do not try to test multiple ideas in one sprint.
• To figure out where the biggest risks in a new idea lie, ask yourself: if this time in a year, this project failed, why would it have done so?
• A sprint team contains 5 – 7 people with different backgrounds. Only one should be an engineer, the rest should come from marketing, finance, design and more. This is because the sprint is about testing whether the product needs to exist, not how to build it.
• Get the Google Ventures book Sprint: How To Solve Big Problems and Test New Ideas in Just Five Days  

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