Scientific Method

So what do those scientists do to solve a problem?  They're usually pretty good at doing that.  The Scientific Method has been around for years, and is well refined.  Here 'tis ... we can apply it to most any problem. 

1. Purpose ... what do you want to learn?
2. Research ... find out as much as you can!
3. Hypothesis ... try to predict the answer to the problem, an "educated guess" ... "If I (do something), then (this will occur)".
4. Experiment ... design a test or procedure to confirm of disprove your hypothesis.
5. Analysis ... record what happened during the experiment ... collect data.
6. Conclusion ... review the data and check to see if your hypothesis was correct
7. Iteration ... change what didn't work and test it again.

Attractive Innovations

1. Well-defined customers
2. Easily measurable benefits
3. Short pay-back period
4. High Benefit/Price ratio
5. Sustainable competitive advantages
6. Venture has core competencies
7. Venture has resources