The Definition

“A strategy of trying something, getting fast feedback, and then rapidly inspecting and adapting. In the presence of high levels of uncertainty, it is often less expensive to start working on a product, learn whether we made a good decision, and if not, kill it fast before more money is spent.”

The concept has merit if, and only if, it is part of the overall strategy.  In other words, the company planned the approach, accounting for the evaluation and planning for next steps (failure and success).  However, many cases of fail fast are a result of lack of strategy.

Fail fast can be an effective tool with particular concepts, personnel and models.  It’s not a one-size fit all approach, nor should your brand apply such strategy in place of solid research, vetting and planning.