An iteration failure is inevitable
But can your failed iterations be redeemed?
Introduction
When diving into product development, it’s crucial to understand that innovation isn’t a straight line. Take a glance at any tech company’s history, and you’ll find a mix of successful launches and hiccups. But here’s the catch: even those missteps often leave imprints that shape future breakthroughs. Products that didn’t quite hit the mark can sow the seeds for something transformative down the line. And for product managers and CXOs, recognizing and harnessing this hidden value can make all the difference.
“If you are failing, fail fast”
There’s a prevailing sentiment, especially in the world of tech, that failure is taboo. After all, who wants to admit they backed the wrong horse? But if you pull back the curtains and look at the real-world decision-making rooms, it’s evident that the best in the business don’t just expect failure; they plan for it.
Take Brian Chesky, CEO of Airbnb. When the company started, they sold novelty cereal boxes just to keep afloat. Sounds absurd, right? Yet today, Airbnb stands as one of the pioneers of the sharing economy. Or look at Reed Hastings, the co-founder of Netflix. He’s candid about how his late fee from a rented movie led him to rethink the rental model entirely. That seemingly small frustration birthed a streaming giant.
“We’re Air Bed & Breakfast. The air beds aren’t working out, maybe we could sell breakfast…So we thought, let’s just get in the breakfast business.” — Chesky
In regions like Silicon Valley, there’s a shift towards embracing the “Fail Fast” culture. The philosophy isn’t about reckless abandonment but about validating ideas quickly. If it’s going to flop, better if it happens sooner with fewer resources burned. It’s like testing a hypothesis in a lab; not every test will be a winner, but each one provides data.
However, our collective narrative needs an overhaul. We often laud successes but gloss over the failures that paved the way. Companies like Slack and Twitter, for instance, began as entirely different products. It was their adaptability in the face of initial roadblocks that allowed them to thrive in new forms.
For innovators, it’s vital to discern the distinction between short-term setbacks and long-term vision. Recognizing that one product’s underperformance doesn’t equate to the endgame is crucial. It might just be a stepping stone to something even grander.
The Nature of Innovation and Iteration
At its core, product development is an iterative process. Think of it as a cycle of design, testing, learning, and redesign. Every new version, every tweak, and every feedback session propels a product closer to market fit. But it’s rarely a one-shot deal. Take Gmail, for instance. What we know today as a staple in email communication initially began as a side project by Google developer Paul Buchheit. He faced multiple iterations and internal feedback before it saw the light of day.
Moreover, it’s worth noting that most groundbreaking innovations aren’t novel ideas born overnight but are the results of persistent refinement. Remember the clamor around Microsoft’s Windows Vista? It faced criticism for performance and compatibility issues. Yet, those very critiques became instrumental in the creation of the more stable and popular Windows 7.
From Slack, which began as a gaming company named Tiny Speck, to Twitter, which was once a podcast platform called Odeo, history is brimming with examples that show iteration is often the mother of innovation. For decision-makers, it’s less about avoiding missteps and more about using them as stepping stones.
A List of Notable ‘Mistakes’
Every product tells a story, and not all of them are tales of seamless success. But even in these so-called ‘failures’, there’s often a silver lining that’s easy to overlook.
Apple’s Newton
Before our world was filled with iPhones and iPads, there was the Newton. Launched in the ’90s, it was one of the first attempts at a personal digital assistant. Though it was criticized for its high price and handwriting recognition issues, without Newton’s ambitious vision, the path to today’s touch-based devices might have looked different.
Google Glass
Remember the buzz around these futuristic glasses around 2013? Many were skeptical, pinpointing concerns over privacy and, let’s admit, the device’s less-than-stylish look. Yet, while Google Glass as a consumer product didn’t become our everyday wear, the essence of augmented reality (AR) it introduced is now seeing wider acceptance. Case in point: AR applications in sectors like healthcare for surgical assistance and real estate for virtual tours.
Segway
When introduced, it was pitched as the future of transportation. While we aren’t all gliding around on Segways today, its technology sparked an interest in alternative electric transport methods. We’ve observed the same gyroscopic tech now being adapted in hoverboards and electric scooters cruising around our streets.
Dyson’s Electric Car
Dyson, renowned for its vacuums, took a swing at electric cars and invested a whopping $500 million before pulling the plug. The project might not have reached our driveways, but the advancements in battery tech and airflow mechanics from this endeavor could potentially shape future innovations.
Amazon’s Fire Phone
While Amazon reigns supreme in e-commerce, its foray into smartphones in 2014 was short-lived. It was overshadowed by industry giants like Apple and Samsung. However, from what I’ve gathered, Amazon’s Fire Phone journey offered them key insights into hardware development, which arguably influenced the refinement of their Echo and Alexa devices.
The Unexpected Discoveries
Sometimes, the best innovations come from places we least expect. The unintended results, those ‘accidents’, often hold the key to transformative breakthroughs. Here’s a glance at instances where an initial ‘mishap’ or oversight led to something incredibly valuable:
Post-It Notes by 3M
It’s a staple in almost every office or study room now, but did you know Post-Its were never meant to be? Dr. Spencer Silver, a scientist at 3M, was trying to develop a super-strong adhesive. Instead, he ended up with something that stuck, but could also be easily peeled off. It wasn’t until his colleague, Art Fry, realized the potential for bookmarks in his choir hymnbook that Post-Its found their true calling.
Penicillin by Alexander Fleming
The world of medicine was transformed in the late 1920s, but it all began with a ‘mistake’. Fleming returned from a vacation to find his petri dish of Staphylococcus bacteria contaminated with mold. But instead of discarding it, he noticed the bacteria were being killed by the mold, leading to the discovery of the first true antibiotic.
Teflon by DuPont
This might resonate with anyone who’s cooked eggs on a non-stick pan. Teflon, the miracle behind non-stick cookware, wasn’t intended for pans at all. In 1938, Roy Plunkett of DuPont was experimenting with refrigerants. Instead of producing a new cooling agent, he stumbled upon a waxy, slippery substance. It took years before its application in cookware was recognized.
Understanding the Value Beyond Immediate Success
In the world of products and innovation, the immediate outcome of a venture doesn’t always reflect its long-term value. There’s a wealth of intangible benefits hidden beneath the surface, often overlooked but undeniably impactful. Let’s dive deeper into these often-underestimated treasures:
Team growth and experience
Every project, successful or not, shapes a team. Take Nokia, for instance. Before the rise of smartphones, they dominated the mobile phone market. However, as smartphones took over, Nokia struggled to keep pace. But instead of marking it as a total loss, many of Nokia’s engineers and talents eventually found their way to other tech companies, bringing with them invaluable experience.
Enhanced market understanding
Failures can offer a crystal-clear lens into what the market truly wants. Remember New Coke? In the ’80s, Coca-Cola tried to reformulate its iconic drink. The backlash was swift. However, when they brought back the original as ‘Coca-Cola Classic’, sales soared. It wasn’t just a lesson in product formulation but in understanding brand attachment and customer loyalty.
Technical breakthroughs with potential applications elsewhere
Xerox’s Palo Alto Research Center (PARC) developed the first computer with a graphical user interface in the ’70s. Yet, it was Apple, with the Macintosh, that made it household tech. While Xerox couldn’t capitalize fully on its innovation, the foundation it laid changed computing.
The takeaway? Immediate success is just one metric. The ripples created by a product or project, even if it doesn’t succeed in its initial aim, can resonate far and wide, sometimes in ways we least expect.
Embracing and Overcoming the Stigma of Failure
The world of business can sometimes be unforgiving. Missed targets, unsuccessful launches, or unmet expectations come with a stigma. However, a shift in perspective can alter the narrative significantly.
Silicon Valley’s “Fail Fast” Mindset
If there’s one place that has made a culture out of embracing setbacks, it’s Silicon Valley. The mantra “Fail Fast, Fail Often” isn’t about celebrating mistakes but about the speed of iteration. Consider the trajectory of Twitter. Before it became the microblogging giant, it was a platform named Odeo, intended for podcasting. When Apple launched iTunes podcasting, Odeo seemed obsolete. Yet, during a brainstorming session, the idea of a short messaging service emerged, leading to Twitter’s birth.
Changing Corporate Attitudes
The narrative around failure is evolving in boardrooms. Companies like Tata, a massive conglomerate in India, host “Dare to Try” awards, celebrating teams whose innovative ideas didn’t work but showcased a spirit of attempting something radical.
Transforming Failures into Cornerstones
Some companies have mastered the art of turning stumbling blocks into stepping stones. Nintendo started as a playing card company in the 19th century. Over the years, they pivoted multiple times, even venturing into love hotels and taxis. Today, they’re video game legends.
Know this before you innovate
Navigating the unpredictable seas of innovation requires more than just a robust ship; it demands a resilient mindset and an astute understanding of the waters. Here are some distilled insights for entrepreneurs and innovators:
Championing Experimentation
While the term ‘experimentation’ might evoke images of scientists in white coats, in the business world, it’s about the willingness to try varied approaches. Netflix, for instance, began as a DVD-by-mail service. When streaming became technologically viable, they pivoted and redefined entertainment.
“Our success wasn’t just about predicting the future but being ready to adapt to it.” — Reed Hastings, Netflix’s CEO
The Importance of Postmortems
When projects don’t pan out, it’s easy to push them aside and move forward. However, conducting a thorough postmortem can be a treasure trove of insights. Analyzing what went wrong, what could have been done differently, and what unintended outcomes arose can shape future strategies.
Holding onto Vision and Tenacity
While flexibility is key, so is having a firm grip on one’s vision. Consider the journey of Howard Schultz with Starbucks. Originally, Starbucks just sold coffee beans. Schultz, after a trip to Italy and experiencing its coffee culture, envisioned Starbucks as a place for community and conversation. Despite initial resistance, his tenacious belief in this vision transformed Starbucks into the global community coffee house we recognize today.
Conclusion
In the realm of innovation, highs and lows are part and parcel of the journey. It’s essential to remember that every setback hides a lesson and every ‘failure’ can be a foundation for future success. For every entrepreneur and innovator, it’s not just about celebrating the victories but also recognizing the invaluable insights that come from the detours, ensuring the journey remains as enriching as the destination.
Written by: Inchara, Weave Media Team.
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