The calculator was successful and allowed HP to explore another market without having much competition.Ī little bet is a low-cost, quick way to test an idea. So in 1972, HP introduced the first scientific calculator into a niche market even though research advised against it due to its hefty price of $400. HP needed to expand, but there were already established markets with many competitors. Bill Hewlett of HP understood this, which is why he made a brilliant “little bet” that turned out well for his company.

This will allow you to discover new opportunities and ideas along the way. To grow a small idea into something big, you should avoid overly-detailed planning. Google did not intend to become so influential rather, it wanted to improve web searches. Instead, they begin by working on a smaller project or product and then expand it when an opportunity presents itself. However, most successful entrepreneurs do not start out with the intention of creating something big. MBA students are taught that great entrepreneurs have to come up with a great idea before starting their own business. Big Idea #1: Take small, concrete actions instead of struggling through big, elaborate plans. They’ll learn that being a good perfectionist is important when they’re trying to create anything new. It also teaches about how an embedded journalist uses creativity to gather information. There are a number of strategies that can be used to make the little bets approach more effective, as well as increase creativity and innovation.Īfter reading this passage, a person will know that the skill of improvisation is not just something used by actors, which can be applied to any area in life. Hewlett-Packard used this approach when it created scientific calculators Pixar did so with animation and many others have succeeded by taking little bets.

Why not focus on the little things in life? Over time, they can grow into something big.

Little bets sims