Are you (trying to) pioneer digital services in a large firm?
In the complex landscape of large corporations, introducing innovative digital services requires a unique approach. Discovery-Driven Planning (DDP) offers a strategic framework tailored for corporate innovators facing the challenges of uncertainty and scale.
OK, so what is DDP (Discovery Driven Planning) exactly?
DDP is a process that you can think of like a strategic compass, helping you navigate uncertainty. It's like a way of chopping away uncertainty from a project or venture chunk by chunk. DDP is particularly suited for environments where the risk is high, and the path to success isn't clear. DDP allows you to build a plan based on assumptions, testing them continually against the unique challenges and dynamics of your organisation.
Yes, DDP can work in your organisation.
You can adapt DDP for your corporate innovation programs. In fact it's perfect for turning uncertainties into structured, manageable processes that your C-Level peeps will appreciate. :)
A 5 step DDP process for implementing DDP at your company:
- Blueprint for Uncharted Territories
Begin with a vision of success. Use a reverse income statement to outline the financial goals of your digital service. This method helps in setting realistic targets in the often ambiguous corporate environment.
- Market Realism Check
Align your projections with market realities. Compare your financial goals with existing digital services within and outside your organisation to ensure feasibility.
- Operational Roadmap for Digital Ventures
Detail the steps needed to develop and launch your digital service. This operational plan is crucial in navigating the complex corporate structures and processes.
- Assumption Checkpoints
Identify and continually test key assumptions. In a large firm, assumptions about resources, internal processes, and market acceptance are critical to validate.
- Iterative Learning and Pivoting
Establish regular review points. These are vital for adapting your strategy based on real-world feedback and internal corporate dynamics.
“Discovery-driven planning offers a lower-risk way to move a product forward in the face of “what is unknown, uncertain, and not yet obvious to the competition” so that firms can “learn as much as possible as cheaply as possible” while pursuing new ventures"
Don't forget the culture
Implementing DDP in a large corporation isn't just about following steps; it's about fostering a culture of learning and adaptability. Encourage teams to embrace the iterative nature of DDP, using each phase as an opportunity to refine and improve your digital service offering. But culture and team building... that's a whole other post or 12.