Terry conducted an experiment that focused on selling her graph creator. When doing so, she realized that it isn’t a necessary feature for most hospitals; in fact, she may even stop development on the graph creator as a result of this realization. Prior to this experiment, she was extremely confident that this would be a winning feature — based on her 30+ years of experience within the industry.
This failure is a WIN.
The difficulty is:
– Getting Terry to realize that this is win.
– That the importance of the Fluent process is experimentation and iteration.
– That her 30+ years of experience within the industry don’t make her assumptions facts.
Terry wants to grow because of the pressure that arises from both getting the LOIs needed for her grant and the 50 facilities needed to achieve a nationally benchmarked database. That pressure is understandable. But if she doesn’t address the validation and testing necessary to understand what customers need, achieving exponential growth will be very difficult.
At this point, there are two things that Terry can really optimize for, the smallest unit of value that she can offer to make a sale and her methods for reaching her customers.
She feels like it isn’t possible to reach her customers given COVID; furthermore, she believes that her only option is to provide her database for 75% off. I believe that Terry is allowing her assumptions to impinge upon her ability to find innovative ways to move forward. This week she’ll speak with 3 industry professionals to get some ideas about how to specifically navigate the healthcare industry.