More than a century ago, the department store owner John Wanamaker reportedly coined the marketing adage “Half the money I spend on advertising is wasted; the trouble is that I don’t know which half.” We’ve found something similar to be true of new ideas: The vast majority of them fail in experiments, and even experts often misjudge which ones will pay off. Companies need to kiss a lot of frogs (that is, perform a massive number of experiments) to find a prince —
Intriguing insights as always