L.E.K. Consulting leaders launch bestselling book
A new book written by leaders at global management firm L.E.K. Consulting, "Predictable Winners," serves as a handbook for developing, forecasting, and launching new products and services. The book is a National Bestseller and was #25 on the USA Today Bestseller List.
Though launching new products is always risky, organizations that maintain disciplined innovation practices in place can achieve greater success than their competitors. That is the takeaway from the newly released book, authored by L.E.K. Consulting’s vice chair Stuart Jackson and managing director and partner Ilya Trakhtenberg.
Many companies and management teams have great ideas, but struggle with converting those ideas into new growth and a return on investment, the authors argue. That leads to the failure of the vast majority of products launched every year.
The authors of the book, drawing on their decades of experience supporting a wide range of clients, reveal the secrets of the top innovators. The key to success is to choose the best ideas, leverage data to cut back as much as possible on risk, and getting feedback while measuring the impact of the project.
Predictable Winners offers a comprehensive guide to this systematic approach, broaching topics like putting together the right team, identifying opportunities for innovation, using data, making sound investments, and more.
Also discussed in the book are approaches to using quantitative tools to reduce risk when it comes to competing product concepts, customer segmentation, channels, pricing, and planning a launch. Finally, because not all breakthrough innovation comes from in-house, the authors also explain advanced strategies for improving the odds of success in terms of external acquisitions or licensing of innovations.
“Success today is often about which teams can change and innovate the fastest,” said Paul Walsh, chairman of McLaren Group, in one of several testimonials.
“This book will help organizations get new products right the first time. It should be a cornerstone of management development programs.”
In another, Ania Smith, CEO of TaskRabbit said “the framework in this book will help you move faster, be smarter in defining the market and the potential upside, and execute with confidence to increase your chances of success.”
