LITTLE BETS

Little bets is a book about creativity and innovation. According to the author one doesn't have to look for the big idea that is going to make the difference.The most successful entrepreneurs don’t begin with brilliant ideas-they discover them.

He introduces in his book the little bets approach to innovation.  The benefit of taking little bets with affordable risk, is the opportunity to try and experiment new ideas, while good ideas can stick the failure will not cause so much damage. The author gives examples of little bets approach in his book starting such as Facebook, Starbucks, Pixar, google, Bethowen etc.   

Little bets approach principles:

1. Experiment: Learn by doing. Fail quickly to learn fast. Develop experiments and prototypes to gather insights, identify problems, and build up to creative ideas, like Beethoven did in order to discover new musical styles and forms.

2. Play: A playful, improvisational, and humorous atmosphere quiets our inhibitions when ideas are incubating or newly hatched, and prevents creative ideas from being snuffed out or prematurely judged.

3. Immerse: Take time to get out into the world to gather fresh ideas and insights, in order to understand deeper human motivations and desires, and absorb how things work from the ground up.

4. Define: Use insights gathered throughout the process to define specific problems and needs before solving them, just as the Google founders did when they realized that their library search algorithm could address a much larger problem.

5. Reorient: Be flexible in pursuit of larger goals and aspirations, making good use of small wins to make necessary pivots and chart the course to completion.

6. Iterate: Repeat, refine, and test frequently armed with better insights, information, and assumptions as time goes on.
A.K.