Tuesday, July 22, 2008

Fail Early - Fail Often - Fail Publically - Succeed Massively

Yesterday, Donna Fenn, covered LM in her "Entrepreneurial Generation" blog post in Inc. Magazine discussing her admiration for companies which engage in the process of development through user lead innovation.

Great Post. Though short, the clear drift was that companies who engage in true "2.0" idea generation and feedback are much more likely to experience failure at first, but success in the long run. Here, in speaking about user-innovation led development, she says:

"It’s messy, unpredictable, and demands that you throw yourself into experimental mode, and declare yourself willing to fail. In the meantime, though, you’ve succeeded in assembling an engaged global community of members who talk to and collaborate with one another under your watchful eye, and who just may generate the spark for your next great success. "

Donna, these words struck right at the very center of the target for me. Truer sentiments have not been written about a 2.0 company, especially one that is making cars. Every day we approach new decisions with a clear sense of "we haven't been here before, but at least no one else has, and we are learning deliberately in full view of our community." So far that method of learning has only been a benefit.

As long as we keep the user lead "pipeline" open we are happy to continue learning in this way.

Can't wait to read the expanded version of the research in your book. Thank you Donna.

(a few minor clarifications to the article are as follows: we are not as much a social network as a community of enthusiasts; we have competitions every month not every week; and we are not an open source platform for the design of every part of the car but rather for the exterior and interior design and a few other select areas)

2 comments:

donna fenn said...

Glad you liked the post (and thanks for the corrections). I'll be keeping an eye on LM and rooting for your success in shaking up the auto industry!

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