Hi, I'm AurΓ©lie, a professional coach and facilitator, specialized in innovation in healthcare and sustainability. I enable team and organization leaders in healthcare to increase the speed between an ideas discovery and significant investments. I bring creativity and disciplined methods with contagious energy and a smile as well as a team and system coaching approach. I have a No BlaBla, No Bulshit, and no Blingbling values. I am a entrepreneur / working Mum aware that I only have one life, so I want to make the most of it!
The easiest way to save time and money for your project: focus on risks. StoH# 25
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Hello ! β Spring is here in Basel, Switzerland. It's so lovely to see the color and the smell. Last week, I reached over 10 million public funding allocation application reviews from startups and academic projects. This is the occasion to summarize the leading mistakes teams make when developing a new solution. By solution, I mean a product (launch a complex and costly new oncology combination), a process (be ready to deal with the latest European legislation on HTA), or a service (AI-based digital health software as a service). The mistake #1? Their strategy and tactics have the wrong focus. So, we will look together at how shifting your focus to risks can reduce costs and accelerate the development of your new solution in healthcare. β "Your assumptions are your windows on the world. Scrub them off every once in a while, or the light won't come in." SIsaac Asimov, Author of Fondation and biochemist β Before I forget, I have launched "Bamboost Circle: Tips & Talks" (the name is still a work in progress π ), a new Ask Me Anything (AMA) session designed to connect, inform, and inspire. We're starting off with a hot topic: "How to Elevate Your Value Proposition." This 30-minute insight-packed presentation will be paired with a 30-minute AMA. Save the Date: April 4th at 12 PM CET. Register hereπ and join the conversation! It is free and reserved for my readers and coachees π. β
β Looking forward to seeing you there! Get comfortable for your 5 minutes of sparks to hack. β β¨ Sparkβ β We build solutions based on assumptionsβ If you are working on a complex project, is your idea a vision or an illusion? Illusions of knowledge are dangerous. We think we know our customers, how they will use our product, and how our partner will handle the collaboration.
βThe greatest obstacle to discovery is not ignorance; it is the illusion of knowledge." Daniel J. Boorstin β I use this metaphor with my teams: your project is just a set of assumptions like this castle of cards (does it speak to you?). Each card represents a critical assumption. Assumptions are statements that need to be true for your idea or project to work. β Without a solid foundation, you face a high risk of failure. So our job is to build a solid castle of cards: meaning 1) knowing our assumptions and 2) ordering them so we have a solid foundation. β β Assumptions - 3 types of risksβ All assumptions can be categorized within 3 areas of risks
β β β Desirability: Do customers want your solution?βYou take the perspective of the market and your customers. Assumptions could be :
β β Feasibility: Can we do it?β You look at your organization, the partnerships, and the environment. Assumptions could be :
β β Viability: profitable or self-sustaining business model?You want to understand the cost/investments and revenues. Assumptions could be :
β Last tips for listing your assumptions: For each category, you will also have risks you can influence (e.g., your pricing strategy) and risks outside your influence (e.g., competitors' strategies or the macroeconomic condition with high inflation rates). So now let's see how it could help you to run projects better or develop solutions. β β¨ Hackβ Here are tips for saving time and money if you work on complex projects (high uncertainty, significant complexity). β β Stop doing activities-based planning but do risk-based planningβ Reflect on your plan: is it activity-based? By activities, I mean your to-do list and the prioritized projects. Do you frame your plan as "we will DO this, then that " or "we will REDUCE /LEARN about this risk, and then that risk" If you are activities-focused, you might miss the most significant risk your team needs to tackle first. Remember the castle of the card. So move from "we aim to DO that" to "we aim to LEARN that." β β Promote the right questionsβ One criterion of a team's performance is the quality of their questions.
"Judge a man by his questions rather than by his answers." - Voltaire So, reflect on the questions you spend the most time answering. To help you and your team focus more on risks, use these 3 questions when you review your strategy or tactics :
β β Stop mitigation strategy - start experimentationβ When you develop a mitigation strategy, you list your main risks, score them from high to low risk, and create a plan to prevent or reduce the risk. The mitigation strategies are: π€ Conduct market research and gather feedback from potential users, offer pilot programs and trials to showcase effectiveness to potential customers. But this is a wrong mindset! Managing risks is not the same as learning from the market, and intending to limit risk is not the same as understanding its size. β You must design experiments before planning risk mitigation strategies. β All of this content can be learned and applied to your project in my online coaching program, BOOST. It is for early-stage projects in healthcare that involve designing a new process, a product, or a service.β
β It is based on the insights from more than 500 healthcare teams coached. And if you are interested in experimentation, here is one of my last articles about it. β This is all for today π. See you in two weeks. Keep the spark alive, and be intentional :) |
Spark to Hack β§
Hi, I'm AurΓ©lie, a professional coach and facilitator, specialized in innovation in healthcare and sustainability. I enable team and organization leaders in healthcare to increase the speed between an ideas discovery and significant investments. I bring creativity and disciplined methods with contagious energy and a smile as well as a team and system coaching approach. I have a No BlaBla, No Bulshit, and no Blingbling values. I am a entrepreneur / working Mum aware that I only have one life, so I want to make the most of it!
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