3x explore expand extract

src: 3x Explore, Expand, Extract - 2022-10-28

Abstract

There are two ways to look in economics:

• convex
  • small investment, large payoff
  • people wants to maximize the investments in order to have the payoff
• concave
  • large investment, huge loss
  • people wants to avoid loss and try to enhance the investment

Those ways can also be used in softwared practice, e.g. agile, waterfall like,…

One important question to ask: What do I have to lose?

Experiments: successful or not, you learn something.

• Explore: How hard is it to try the idea?
  • convex world
• Expand: scale
• Extract: KPIs, continuous progress
  • concave world