The Cost of Trying is lower than the Cost of Analyzing!
In a classic CMR article, Lynn and Morone urged high tech firms to “Probe and Learn”: get a workable product or service out there into the market and see what works.
I just listened to a podcast on the BW Innovation site of Clay Shirky promoting his new book. He cites how the Internet changes everything for NSD or web-based services (echoing a finding from my own research with web-based B2B financial services):
“The cost of trying is lower than the cost of analyzing…[whether a new product or service will succeed]”
The podcast is on the BW Innovation site:
This is certainly true of our internet services, but also more and more all of our services. Even if our product is not on the net, our better communication with customer service, etc. still makes changes easier. We try things out and see if it works.