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Medium-sized companies like to outsource the joy of experimentation into their own departments – and thus risk that the company will miss the change. A column.
It was an expensive lesson: the loss we made at Edding with the LAQUE nail polish series amounts to a seven-figure sum. After eight years, we discontinued the product in early March. Looking back, I was surprised that resources were invested for so long in a project that had declined sharply after a good start. Lessons for the future could also have been obtained more cheaply.
“Fail faster!” has been one of the favorite phrases of founders for years. In fact, in uncertain times like the one we are currently experiencing, it is an important basis for the success of all companies. Uncertainty needs experiments, and experiments must be allowed to fail.
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