(originally posted May 25, 2011)
"At the core of this experimental approach," Sims writes, "little bets are concrete actions taken to discover, test, and develop ideas that are achievable and affordable. They begin as creative possibilities that get iterated and refined over time, and they are particularly valuable when [one is] trying to navigate amid uncertainty, create something new, or attend to open-ended problems. When we can't know what's going to happen, little bets help us learn about the factors that can't be understood beforehand."
Little Bets: How Breakthrough Ideas Emerge From Small Ideas is a new book by Peter Sims. The premise of the book is how to place little bets which are “concrete actions to discover, test, and develop ideas that are achievable and affordable”. The book is not only intended for entrepreneurs and applicable to designers, but is appropriate for all who require creative approaches to solving problems. Read a review of the book at Change Observer.