New Project? Don't Analyze—Act

Leonard A. Schlesinger; Charles F. Kiefer; Paul B. Brown

Article | Harvard Business Review | March 2012

New Project? Don't Analyze—Act

by Leonard A. Schlesinger, Charles F. Kiefer and Paul B. Brown

Abstract

In a predictable world, getting a new initiative off the ground typically involves analyzing the market, creating a forecast, and writing a business plan. But what about in an unpredictable environment? The authors recommend looking to those who are experts in navigating extreme uncertainty while minimizing the risk: serial entrepreneurs. These business leaders act, learn, and build their way into the future. Managers in traditional organizations can do the same, starting with smart, low-risk steps that follow simple rules: Use the means at hand; stay within an acceptable loss; secure only the commitment needed for the next step; bring along only volunteers; link the initiative to a business imperative; produce early results; and manage expectations. Momentum is gained by continuing to act based on what is learned at each step. The launch of Clorox's Green Works product line is discussed as an example.

Keywords: entrepreneurship; managing yourself; project management; project strategy; Risk Management;

Format: Print

Find at Harvard Purchase

Citation:

Schlesinger, Leonard A., Charles F. Kiefer, and Paul B. Brown. "New Project? Don't Analyze—Act." Harvard Business Review 90, no. 3 (March 2012): 154–158.

Over the past decade, a new breed of “direct-to-consumer” (DTC) startups, including Warby Parker and Casper, helped forge a new business model. But lately that business model is faltering as the advantages that early entrants enjoyed have evaporated. To retool, DTC companies will need to embrace an omnichannel strategy, create tighter ties with their communities, and vertically integrate to increase margins.

LOLA is a direct-to-consumer (DTC) business launched in 2015. What started as a company to provide women with organic and transparent material-labeled tampons via a subscription model, had, by 2019 evolved to include additional menstrual and sexual wellness products. LOLA’s leadership wanted women to come to the company for all of their reproductive health needs (including information and a place to engage in conversation) from menstruation through menopause and beyond. Heading into 2020, LOLA cofounders have determined that to grow the business they need to go beyond the company’s current DTC model and have products available in retail stores. The challenge, however, is finding the right retailers to partner with that will help to add value to the brand and not detract from it. The case provides background on the cofounders, the company’s start, and evolution, and the challenges of moving beyond DTC.

Faculty & Research

New Project? Don't Analyze—Act

Abstract

Citation:

About the Author

More from the Author