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Wednesday, November 12, 2014

Innovator's Method: Post #7--Conclusion

Conclusion. Evidence—it works. Intuit increased its revenues tenfold using experimentation and rapid prototyping. Regeneron (biotech) reduces go-to- market for pharma from $4.3 B to $.07 B—18% of the usual cost. Increase the number of experiments if you want to get more ideas to market faster. Business schools don’t have courses on product development, but business should be about “creating a customer” (Drucker). Bottom line: If you have high certainty, write a business plan, but if you’re in uncertain times or industry, become an innovator and experiment like hell!

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