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Little Bets: How Breakthrough Ideas Emerge from Small Discoveries, by Peter Sims
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What do Apple CEO Steve Jobs, comedian Chris Rock, prizewinning architect Frank Gehry, the story developers at Pixar films, and the Army Chief of Strategic Plans all have in common? Bestselling author Peter Sims found that all of them have achieved breakthrough results by methodically taking small, experimental steps in order to discover and develop new ideas. Rather than believing they have to start with a big idea or plan a whole project out in advance, trying to foresee the final outcome, they make a series of little bets about what might be a good direction, learning from lots of little failures and from small but highly significant wins that allow them to happen upon unexpected avenues and arrive at extraordinary outcomes. Based on deep and extensive research, including more than two hundred interviews with leading innovators, Sims discovered that productive, creative thinkers and doers-from Ludwig van Beethoven to Thomas Edison and Amazon's Jeff Bezos-practice a key set of simple but ingenious experimental methods, such as failing quickly to learn fast, tapping into the genius of play, and engaging in highly immersed observation, that free their minds, opening them up to making unexpected connections and perceiving invaluable insights. These methods also unshackle them from the constraints of overly analytical thinking and linear problem solving that our education places so much emphasis on, as well as from the fear of failure, all of which thwart so many of us in trying to be more innovative. Reporting on a fascinating range of research, from the psychology of creative blocks to the influential Silicon Valley-based field of design thinking, Sims offers engaging and wonderfully illuminating accounts of breakthrough innovators at work, including how Hewlett-Packard stumbled onto the breakaway success of the first hand-held calculator; the remarkable storyboarding process at Pixar films that has been the key to their unbroken streak of box office successes; the playful discovery process by which Frank Gehry arrived at his critically acclaimed design for Disney Hall; the "aha" revelation that led Amazon to pursue its wildly successful affiliates program; and the U.S. Army's ingenious approach to counterinsurgency operations that led to the dramatic turnaround in Iraq. Fast paced and as entertaining as it is illuminating, Little Bets offers a whole new way of thinking about how to break away from the narrow strictures of the methods of analyzing and problem solving we were all taught in school and unleash our untapped creative powers.
- Sales Rank: #2133061 in Books
- Brand: Peter Sims
- Published on: 2011-08-09
- Formats: Audiobook, MP3 Audio, Unabridged
- Original language: English
- Number of items: 1
- Dimensions: 7.40" h x .60" w x 5.30" l, .18 pounds
- Running time: 18000 seconds
- Binding: MP3 CD
Features
Amazon.com Review
Amazon Exclusive: A Q&A with Author Peter Sims
Q: What is a "little bet"?
A: A little bet is a low-risk action taken to discover, develop, and test an idea. So, for instance, Chris Rock develops new comedy routines by making little bets with small audiences, while Amazon’s CEO Jeff Bezos makes small bets to identify opportunities in new markets. Little bets are at the center of an approach to get to the right idea described in the book that any of us can learn without getting stymied by perfectionism, risk-aversion, or excessive planning.
Q: How is this approach different from and better than the typical way most people do something new?
A: We’re taught from an early age to use certain procedures and rules to analyze and solve problems, such as for math or chemistry. We’re asked, what’s the correct answer, right? There’s an emphasis on minimizing errors. These types of skills serve us extremely well, especially when we have enough information to put into a formula or plan. But what happens when we don’t even know what problems we’re trying to solve? It happens a lot. That’s the situation the U.S. Army has had to face when confronting Middle Eastern insurgents. In situations like these, engaging in discovery and making little bets is a way to complement more linear, procedural thinking.
Q: What research did you do for this book and what did you set out to discover?
A: I wanted to find out what went on behind the scenes of some of the great achievements and innovations we witness. Most of them weren’t the epiphanies of geniuses, but instead the result of masters of a specific type of experimentation. To find out the common elements of their experimental approach, I reviewed empirical and neuroscience research about creativity and innovation, and interviewed or observed dozens of people about their approach, including Army counterinsurgency strategists, architect Frank Gehry, agile software development teams, stand-up comedians, entrepreneurs who had self-financed billion dollar businesses, the rapidly growing field of design thinking, and musicians like John Legend, as well as executives inside a range of organizations such as Amazon, Pixar, Procter & Gamble, Google, 3M, General Motors, and Hewlett Packard.
Q: What about big bets? Why do you focus on little bets?
A: We all want to make big bets. That’s a Silicon Valley mantra. Be bold. Go big. But I think ingenious ideas are over-rated and that people routinely bet big on ideas that aren’t solving the right problems. Just as Pixar storytellers must make thousands of little bets to develop a movie script, Hewlett Packard cofounder Bill Hewlett said HP needed to make 100 small bets on products to identify six that could be breakthroughs. So, little bets are for learning about problems and opportunities while big bets are for capitalizing upon them.
Q:Why is it more important than ever to master a "little bets" approach?
A: We live in especially uncertain and rapidly changing, yet risk-averse times that make it easy to get stuck. Little bets provide an antidote. Take Twitter. It originated out of little bets made inside Odeo, a podcasting company that was going nowhere. After asking employees for suggestions about what the company should do, Odeo founder Evan Williams gave Jack Dorsey two weeks to develop a prototype for his short messaging idea. Twitter was soon born. The same is true for all of us. Unlike previous generations, people now change jobs every few years and, according to researchers, will even switch careers up to six or seven times over a lifetime. That’s a very different world than previous generations. Little bets must become a way to see what’s around the next corner, lest we stagnate.
Q: What surprised you most in what you found?
A: One of the things that constantly surprised me was how many similar approaches and methods spanned across the vastly different fields. Story developers at Pixar, Army General H.R. McMaster, a counterinsurgency expert, and Frank Gehry use the same basic methods and of course make lots of little bets. They even use similar language and vocabulary – like "using constraints" or "reframing problems"– but they all learned their approaches through their experiences, not in school. General McMaster may have said it best when he said that the parallels between these very different experts were "eerie."
Q: What companies are best at little bets?
A: Amazon, Pixar, Apple, and to a lesser extent Toyota, 3M, and Google have little bets infused into their cultural DNA. Steve Jobs has evangelized about the benefits of the approach described in Little Bets more than any other CEO, while little bets are a way of life at Amazon, whether the company is expanding into new markets or improving internal processes. And, I wrote a lot about Pixar because it’s the closest thing to a constant learning organization using little bets around today. But any company or team can make use of little bets. Procter & Gamble is an example of a more risk-averse organization that is working to build a culture of little bets.
Q:What’s the first step any of us can start taking tomorrow to start benefitting from a little bets approach?
A: Commit to making a little bet. It doesn’t matter on what. Look for interesting problems and work toward larger aspirations. Maybe it’s going to be a presentation about starting a new nonprofit. Or maybe it’s trying a different approach for a work meeting. Once you get into the habit of making little bets, they can constantly open up new possibilities that just might lead to something big.
Review
"Diverse and uplifting---a veritable gumball machine of memorable anecdotes to inspire creativity." ---Kirkus
About the Author
Peter Sims is a speaker, entrepreneur, and the coauthor of the Wall Street Journal and BusinessWeek bestselling book True North.
John Allen Nelson's critically acclaimed roles on television's 24 and Vanished are among the highlights of his twenty-five-plus years as an actor, screenwriter, and film producer. As a narrator, he won an AudioFile Earphones Award for his reading of Zoo Story by Thomas French.
Most helpful customer reviews
5 of 5 people found the following review helpful.
Natasha Jones (Student review)
By Amazon Customer
I am a student at the University of Baltimore and I had to read this book for a survey entrepreneurship class. I will have to say the book started off pretty decent. It had a good introduction on how Chris Rock prepared for his comedy shows. The books running theme was you learn while doing, but also while failing. A lot of the examples used mentioned how there were several experiments done and mistakes made before they reached their ultimate goal. The book was short but seemed wordy, not a very interesting read but a necessary one for entrepreneurs. The story of Pixar was the most interesting. Pixar had several small wins and even though they had some major flops, they were still able to keep reinventing themselves until they had their breakthrough with animation. I think the author did a great job at delivering the realities of starting a business. He made it a point to mention, through several examples, that it is not all about the large wins, and that sometimes you have to accept small victories and keep progressing forward. He also suggest that setbacks and failures are all a part of the process. I think the book is a good book to read for future entrepreneurs who are finding it hard to find their breakthrough. His emphasis on the experimenting and innovation being key in the success of the business was also a key message throughout the book. The book is definitely geared towards innovative, creative and resourceful individuals who are interested in starting their own business.
3 of 3 people found the following review helpful.
little bets review
By Sundae Renee
When I was first assigned this book, I was a bit hesitant about the content and what it could offer me. As a young entrepreneur, there are always some parts of doubt we have with ideas and the contents that could make or break us. Aspiring entrepreneurs and even existing entrepreneurs should look into it. I learned interesting information about Steve Jobs and Chris Rock that I wasn’t aware of. I have a better appreciation of their crafts and what it took to get where they are today. You will learn to appreciate your failures because they make for a better story and good feedback to fix what wasn’t right in the first place. From learning how militant individuals make their strategic moves with different approaches to conquer constraints in the war. Throughout the book you learn that some people depend on luck like Tim Russert’s experience to the big screen with “Meet the Press”. He believed he could “learn a lit bit from a whole lot of people.” His Knowledge that he learned along the way and persistence got him where he is today. There wasn’t anything that I didn’t like about this book. Which is a first for me due to the fact that I don’t usually engage in personal reading outside of assignments. It made me want to reach out and look for more books to prepare me mentally.
I am a current student at University of Baltimore taking Entrepreneurship course and this was my recommended reading.
0 of 0 people found the following review helpful.
A reiteration of the title - just take little experiments
By Lily
It was as if Sims has read many books on innovation and entrepreneurial-thinking related topics and is casually recounting his most useful takeaways with some repeats.
This book's points are:
Have a growth mindset where you find happiness in making progress. Never place self-worth in your achievements, because when things don't go well, you start to associate negative thoughts with the effort. Just learn to love learning - it's a positive feedback loop.
Improvise and play - there's more brain activity there.
Humor makes better team rapport, establishes trust.
Luck is about being aware of opportunities.
Constructive feedback goes like [ok great, do what you want to do] "And _____" (your input).
Projects need constraints. Break large projects down into many small parts and hone in on the performance of the small components to inform decisions.
And all in all, failing is ok. Try a lot of new little things, and review them to make strategic decisions as results come in.
Sims makes his points based on the organizational behavior of Pixar, Steve Jobs' story, recent changes in Military tactics since the Vietnam war, Frank Gehry's process.
It's a book that reiterates it's main point tongue in cheek with no counter argument to warn those who may be experimenting a little too much, who just ends up drifting around as a jack-of-all-trades. I think that it is important to fail, but there has to be a balance. There has to be grit and perseverance for the big picture, the big overarching goal. It can't just all be little bets. Hard to say how much.
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