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2018 | OriginalPaper | Chapter

4. Mastering the Art of Wandering

Author : Amiel Kornel

Published in: Spinning into Control

Publisher: Palgrave Macmillan US

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Abstract

Wandering, the third core skill of venture craft, helps uncover an authentic opportunity, which is the single biggest challenge facing startups. Founders struggling through incubation follow a winding, non-linear path of discovery in search of early adopters.
Uncovering an opportunity—that is, just reaching the “chasm” that precedes mainstream adoption—can be confounding for two reasons. Firstly, customers can neither exhaustively describe the products they desire nor reliably predict whether they would actually pay for them if built. And secondly, due to cognitive limitations we all experience, innovators rarely can objectively investigate and analyze market opportunities and potential business models alone. Only by progressively replacing assumptions with data and by inviting mentors and others to challenge interpretations of the data can innovators overcome biases and blind spots.

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Footnotes
1
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2
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3
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4
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5
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8
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9
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10
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11
Contrary to stories circulated over the years, neither Strauss nor Davis invented blue jeans. Davis’ invention boosted sales of the San Francisco merchant’s overalls simply by addressing a real and widespread need, namely men’s trousers that could withstand rugged working conditions.
 
12
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14
Maslow, A (1943), “A Theory of Human Motivation,” Psychological Review #50, 370–396. Reissued in 2004 as an Appendix to The Third Force: The Psychology of Abraham Maslow, in PDF.
 
15
“Blue jeans” reportedly replaced “overalls” as the product name only in 1960.
 
16
“History of Denim Through the Ages: Western Wear Goes Hollywood,” The Selvedge Yard, October 17, 2009. https://​selvedgeyard.​com/​2009/​10/​17/​history-of-denim-through-the-ages-western-wear-goes-hollywood/​
 
17
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18
Harvard Business Press, 2009.
 
19
Harvard Business Press, 2016.
 
20
Slocum, D (2016), “5 Questions with Robert Kegan, Lisa Lahey, and Andy Fleming on ‘An Everyone Culture,’” Forbes, April 23, 2016.
 
21
Kahneman, Daniel, Thinking, Fast and Slow, Penguin Books, p. 259.
 
23
Science 27 September 1974: Vol. 185 no. 4157 pp. 1124–1131, “Judgment under Uncertainty: Heuristics and Biases,” Amos Tversky, Daniel Kahneman.
 
24
Thinking, Fast and Slow, p. 114.
 
25
Thinking, Fast and Slow, p. 159.
 
26
Thinking, Fast and Slow, p. 194.
 
27
Thinking, Fast and Slow, p. 199.
 
28
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29
Thinking, Fast and Slow, 192–193.
 
30
Thinking, Fast and Slow, p. 193.
 
Metadata
Title
Mastering the Art of Wandering
Author
Amiel Kornel
Copyright Year
2018
DOI
https://doi.org/10.1057/978-1-137-51356-4_4