Transforming Vision

into Results
By Court Lorenzini
Incite is a Process
NOT a Destination
 Create an environment for Insight

• Keep LOTS of notes, review them regularly

• Observe, ask questions, write down your thoughts
• Read on every topic that interests you
• Don’t rush… let it come to you
• Be original, NOT a derivative

• Patient insight + unlikely pairing of ideas = VALUE

 Modulate your Enthusiasm

• Founder = entrepreneur willing to act for a new

future
– High tolerance for risk
– Driven to act even with limited information
– Confident in their own opinions

• Greatest strength = Greatest weakness

– Insight and enthusiasm aren’t enough
 Being a great Founder

• Adaptability
• Promote TRUST
– Integrity, Intent, Skills and Results*
• Capacity to balance multiple ‘truths’ simultaneously
– Original concept/vision
– Opportunity for meaningful change
– Enhance stakeholder value (shareholders, customers,
employees, suppliers, community)
– Successful economic model
 From Vision to Value Creation

• Be specific about the results you want

• Stretch beyond what you think is possible
• DON’T try to solve problems
– Will get stuck in reactive/responsive trap**
• DON’T be vague
– “Do no Evil”
• DO: Aim at a specific target
• DO: Measure progress toward vision and adapt
 Vision Examples

• Become the #1 internet search engine

• Get reproductive rate of C19 below 0.9 by Dec 2021
• Develop energy storage with total op cost of $0.01
per kWh
• Deliver automated laundry folding solution with
OpEx below $0.05 per pound

• Vision: Aspirational, measurable, real value creation

Is your Vision any good?
 Develop a Hypothesis

• Find and interview execs of every failed business

that preceded yours
– What worked, what didn’t, what would they do differently, who
else should you talk to (ask for intros)
• Develop a hypothesis to achieve your vision
– At least x% of Y will Z***
• IDEA: Automatic Laundry Folding
– At least 10% of coin laundry users will pay $5 to have their
laundry folded within 5 minutes
 Test your Hypothesis

• Collect data, NOT opinions

– DON’T interview potential customers – only get opinions
– DON’T rely on your own experience or team members – more
opinions
• Your own data beats all other sources
– DON’T rely on the research of others, no matter how credible
• Build a Pretotype and collect the data
 What’s a Pretotype?

• Used to test a hypothesis BEFORE you build

anything
– Would someone want it? How much would they pay? How often
would they use it? For how long?
• Opportunity to
– collect your own data
– Implement quickly
– Implement cheaply
 Pretotype Methods

• Fake Door
– Put up dummy website, get people to pre-purchase, reserve,
demonstrate real interest
• Mechanical Turk
– Use humans ‘behind the curtain’ to fake the promised result
• Many others…
• Participants MUST have skin in the game
– Money, real contact info, etc.
 Quantify your Results

• Compare your results to your hypothesis (x% of Y

will Z)
– If data MEETS or EXCEEDS hypothesis, keep going
– All else is chance to revise hypothesis and re-test (or find new
idea)
Reality check
 Opportunity vs Vision

• When you find a working hypothesis, make sure it

supports your vision
– Adjust Vision as necessary
• Is this the dent you really want to make in the
universe?
– Is this Vision truly compelling to you and others?
– Do you want to spend the next 10+ years on this Vision?
– What superpower do you have that will contribute to this Vision?
– What other superpowers will you need around you to get there?
 What you Need to Know

• 90+% of new products fail, even when competently

executed
• No amount of executional brilliance can save a poor
concept from failure
• Data beats opinions
– Your own beats data from others
• Skin in the game is REQUIRED for successful data
• Success = data-tested concept + strong execution
Thank You!
Reading Recommendations
 Suggested Resources

• The Speed of Trust

– Stephen Covey
• The Path of Least Resistance
– Robert Fritz
• The Right It
– Alberto Savoia