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Predictable Winners

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Predictable Winners

A Handbook for Developing, Forecasting, and Launching New Products and Services

Stanford UP,

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Create winning innovations by strategically managing risks.

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9

Qualities

  • Comprehensive
  • Analytical
  • Insider's Take

Recommendation

Risks abound when developing a new product or service. But with the right approach, any organization can create “predictable winners,” consultants Stuart Jackson and Ilya Trakhtenberg argue. Drawing on a host of real-world case studies, the authors unpack how companies can boost their odds of success at every stage in the product development journey — from testing prototypes and seeking feedback to developing solid financial plans and launching strongly. With detailed tools for market research and revenue forecasting, this practical guide provides insightful resources for companies large and small.

Summary

Manage risk to succeed in a competitive marketplace.

Many companies aim to produce innovative products and services, but only 5% succeed. However, organizations that manage risks can achieve a success rate of more than 50%. The “fail-fast” model encourages innovators to test small-scale versions of their ideas, then apply what they learn to continue development or to shift to other projects. Innovative leaders accept that newly launched products will be imperfect. They recognize failure as part of innovation and encourage their teams to keep moving forward.

There will be competition for most new ideas, but the innovators who best manage risks at every stage of innovation win. In the mid-1990s, Apple invested a massive amount of money in R&D for new products such as the Newton personal digital assistant and Pippin gaming system. However, it failed to allocate resources toward ensuring its innovations could compete in the marketplace. By the time Apple launched the iPhone in 2006, it had learned its lesson. The iPhone’s groundbreaking touchscreen technology appealed to a vast customer base — not just the business professionals who flocked to the then-market ...

About the Authors

Stuart Jackson and Ilya Trakhtenberg are “growth-focused” consultants, coaches, advisers, and researchers for management groups.

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