Don’t fail fast… Fail cheap

One of the most important concepts I have learned in the Online world is the concept of “fail fast“.

While there is some controversy surrounding the topic, many of the opposing arguments are missing the point: this is not about ‘Silicon Valley Hype‘ or even ‘Celebrating Failure‘.

This is about “Risk vs. Reward” and managing your company’s resources efficiently: So when someone sells you a project – internal or vendor – it requires you to ask yourself “How long will it take to get to a measurable result?” and “What are the resource and opportunity costs of doing this?” In other words, what else can your team NOT do while resources are tied to this project?

That’s why every business that wants to succeed in ‘Online’ should practice A/B testingAgile Product Development and work with the concepts of MVPs (also for Enterprises), MDPs or – my personal favourite: RATs. They all serve the same purpose: Not all projects will succeed. So better find out faster, cheaper, reiterate and win incrementally. Or, in the words of Fred Brooks: There is no silver bullet.

(PS: Longtail UX for SEM takes just one day for your IT team to set up and delivers measurable results within two weeks – achieving an AdWords ROI increase of up to 50%)