Fail Fast, Fail Cheap, and Move on to the Real Winners

  Image

by Vijay Govindarajan   Article

What Drives You Nuts about Failure?

“Here’s one for you: “I want an innovation effort that fails fast and cheap.” When Tom Peters offered up this oft-quoted phrase, he said, “Test fast, fail fast, adapt fast.” He didn’t just say, “Fail fast.” When Ian MacMillan and Alexander Van Putten offered “Fail Fast, Fail Cheap, and Move on to the Real Winners,” they weren’t really advocating for failing fast and cheap as much as, like Tom Peters, they were advocating for learning fast. Your idea, concept, or business proposition doesn’t have to be fleshed out 100%, or launched worldwide, for you to learn quickly. In fact, it makes sense to break your investments down into increments so that you can validate — or learn what isn’t working — quickly. The point isn’t to fail fast; the point is to learn something useful and move on.”

About these ads

2 Responses to Fail Fast, Fail Cheap, and Move on to the Real Winners

  1. […] It leads to action, which in turn leads to learning by mistake; you learn more about a thing, even if you fail to do it right; but you have to learn from your mistakes; so, do, fast, an action, fail, then learn from it; […]

  2. [...] more about a thing, even if you fail to do it right; but you have to learn from your mistakes; so, do, fast, an action, fail, then learn from it;What’s less than cool about the motto:On the other hand, you should do things right, or you [...]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 139 other followers

%d bloggers like this: