Accepting the risk of failure doesn’t excuse a lack of preparation

Published on: Oct 24 2013 by Tom

failure quoteErika Hall has written an opinion piece for Wired challenging the acceptance of failure in modern business, particularly in new start-ups.

That kind of thinking might be fine for entrepreneurs focusing only on their personal risk and fear of failure, but it has real financial, cultural, and opportunity costs for businesses

Research is not about whether people “like” or don’t like something. No business should ever use the word “like.” Like is not a design word and has nothing to do with any business goal. It’s just a reported mental attitude with no necessary connection to behaviour.

But why should they have to imagine how the world works, when it’s possible to find out through research? Their imagination is then better spent on designing the solution.

There is absolutely no right amount of — or rigid process for — research except what’s right given one’s goals and resources at a particular time.

It becomes immediately apparent, when we try to understand our fellow humans through research, that we are not rational creatures. But when it comes to making business decisions, research helps address that irrationality and increases our chances to succeed.

Read the full article at www.wired.com/opinion/2013/09/why-do-research-when-you-can-fail-fast-pivot-and-act-out-other-popular-startup-cliches/

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