What percentage of new products fail?
New products fail around 80 percent of the time. Chances are your innovation process lets you down more often than not!
But it does not have to be this way. Over the years, managers have been conditioned to believe that innovation is an inherently random process; that the acceptance of failure must be baked into company culture; and that pivoting and failing fast is the way to make the innovation process more efficient.
We’ve proven that these beliefs are based on a misunderstanding of innovation as a process. Companies that apply a needs-based innovation process get the right products to market faster, more reliably, and at a fraction of the development cost. To learn more about innovation as a process read this article. Rethink your innovation process