From Holy Grail to structured fail

Book excerpt: New ideas, products and services can be a tremendous business opportunity. Or they can be a yawning black hole into which your organisation can pour money, manpower and resources with only limited (realistic) hope of return.Pretotyping combines a new mindset and a set of practical tools that help you fail often and fail fast when developing new business ideas – but in accordance with a carefully designed plan that’ll help roll back risk, reduce development costs, speed up innovation processes and boost success rates.Developed at Google and now taught at Stanford University, pretotyping is a supremely effective market-validation tool that helps you radically recalibrate all kinds of bring-to-market equations, as well as revitalising your organisation’s ability to respond quickly to changing commercial circumstances.