The Law of Market Failure: Most new products will fail in the
market, even if competently executed. Using his experience at
Google, his remarkable success as an entrepreneur and consultant,
and insights from his lectures at Stanford University and Google,
Alberto Savoia's The Right It offers an unparalleled approach to
beating the beast that is market failure. Millions of people around
the world are working hard to bring to life new ideas. Some of
these ideas will turn out to be stunning successes that will have a
major impact on our world and our culture: The next Google, the
next Polio vaccine, the next Harry Potter, the next Red Cross, the
next Ford Mustang. Others will be smaller, more personal but no
less meaningful, successes: A little restaurant that becomes a
neighborhood favorite, a biography that does not make the
best-seller list but tells an important story, a local nonprofit to
care for abandoned pets. At this very same moment, another group of
people is working equally hard to develop new ideas that, when
launched, will fail. Some of them will fail spectacularly and
publicly: like New Coke, the movie "John Carter", or the Ford
Edsel. Others will be smaller, more private, but no less painful
failures: A home-based business that never takes off, a children's
book that neither publishers nor children have any interest in, a
charity for a cause that too few people care enough about. If you
are currently working to develop a new idea, whether on your own or
as part of a team, which group are you in? Most people believe that
they either are, or will be, in the first group-the group whose
ideas will be successful. All they have to do is work hard and
execute well. Unfortunately, we know that this cannot be the case.
The law of market failure tells us that up to 90 percent of most
new products, services, businesses, and initiatives will fail soon
after they are launched-regardless of how promising they sound, how
much we commit to them, or how well we execute them. This is a hard
fact to accept. We believe that other people fail because they
don't know what they are doing. Somehow, we believe that this does
not apply to us and to our idea-especially if we've experienced
victories in the past. Filled with detailed case studies, a lesson
on creating your own hard data, a strategy for market engagement,
and an introduction to the concept of a pretotype (not a
prototype), The Right It is a groundbreaking, entertaining, and
highly practical book delivers a proven formula for turning ideas,
products, services, and businesses into successful endeavors. As
Alberto writes, "make sure you are building The Right It before you
build It right".
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