![]() Similar to Basecamp, a bet sets a certain expectation, it’s a strong statement of intent. North Star and 2-year Goals – The handful of ambitious and measurable targets aligned to the beliefs.īet – As explained above, a ‘bet’ is an action to either test or capitalise on a (strong) belief. At Spotify beliefs come in three different types:Ĭompany Beliefs – The strategic understanding of the world and the resultant company focus for the next 3-5 years. Podcasting and audiobooks are recent examples of a big bet made by Spotify based on its strong beliefs. It’s important to define the outcome for each bet and measurable success metrics.īy going through the DIBB framework, Spotify uses a consistent approach to moving from beliefs to bets, crossing different points of alignment in the process. Bets often require significant investment in return for a large upside. This isn’t a fact, but purely based on your understanding of the data and insights.īet (B) – A bet is an action to either test or capitalise on a (strong) belief. You can also predictive modelling to understand trends and implications.īelief (B) – A belief is a hypothesis based on the insights generated. Insights (I) – Translate the data into (actionable) insights working through the available data to look for patterns or potential questions. Think about collating data like market trends, sales stats or customer behavioural data. Similar to the steps involved in creating and aligning on a strategy, the DIBB framework starts with data and observable facts and ends with a number of bets to pursue a certain belief:ĭata (D) – Analyse the available data to better understand the current state of play. It was developed as part of the wider ‘Spotify Rhythm’, as a way to scale its Agile approach. The purpose of this framework is to cascade different points of alignment across an organisation. Spotify uses a so-called ‘Bets Board’ which is part of a broader DIBB framework: Data (D), Insight (I), Belief (B) and Bet (B). Product Managers will prioritise based on assessing value and effort, identifying ‘quick wins’ and ‘big bets’. In business terms, ‘bets’ are the investments or projects that bear a high level of risk but could be very valuable if they success. Learning to recognise the difference between the two is what thinking in bets is all about.” “Thinking in bets starts with recognising that there are exactly two things that determine how our lives turn out: the quality of our decisions and luck.
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