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possible to increase the probability of identifying the global maximum. At every
level of the venture pyramid, there are different creativity techniques (e.g., analo-
gies or patterns) that can be applied to support the process of divergent thinking.
Convergent thinking takes an analytical approach to identify the best possible
alternative. Inourunderstandinghere, thefirst diamondaims to identify the riskiest
assumptions at the particular level of the venture pyramid. In short, through
divergent thinking, a startup ideates a range of alternative assumptions, and the
convergent thinking processes allow the startup to select the riskiest assumption.
The end of the phase often marks the so-called Howmight we (HMW) question
(Knapp et al. 2016), which opens the second diamond and asks how this
assumption can be tested. The second diamond reflects the ideation (divergent
thinking), selection (convergent thinking), and finally the conduction of an
appropriate experiment at every level of the venture pyramid. To support the
ideation of alternative experiments at the level of product-market fit, we match
different digital businessmodels with patterns ofminimum viable products in the
subsequent chapter.
3.2 IdentifyingMinimumViable Products for Digital
BusinessModels
There aremultiple ways to test themost critical assumptions at every level of the
venturepyramid.At the lowest level of theventurepyramid, startups canchoose to
use secondarymarket research or behavioral data (e.g., Google keyword searches)
Fig. 3 Path of deliberate entrepreneurial experimentationwith the venture pyramid (reference to
Göcke 2017b)
78 L. Göcke and R.Weninger
Digital Entrepreneurship
Impact on Business and Society
- Title
- Digital Entrepreneurship
- Subtitle
- Impact on Business and Society
- Authors
- Mariusz Soltanifar
- Mathew Hughes
- Lutz Göcke
- Publisher
- Springer Verlag
- Location
- Cham
- Date
- 2021
- Language
- English
- License
- CC BY 4.0
- ISBN
- 978-3-030-53914-6
- Size
- 16.0 x 24.0 cm
- Pages
- 340
- Keywords
- Entrepreneurship, IT in Business, Innovation/Technology Management, Business and Management, Open Access, Digital transformation and entrepreneurship, ICT based business models
- Category
- International