Fail Fast, Fail Cheap

By Robert Schmidt, Growth & Innovation Advisor, MAGNET

Robert SchmidtWe need to be innovative—you know, try new things! Building on those that seem to work and quickly eliminating those that don’t work out as we had envisioned.

The proven method I use in this case would be the “Fail Fast, Fail Cheap” (FFFC) method.

How do we go about this? Simply stop spending time and money on developing new processes, products, or  marketing messages without trying it out. You want to find out if your concept is a good one? Find out in a fast, easy, and inexpensive way. Bottom line is: The key to fail fast fail cheap is to spend minimum resources to get the concept off the paper (or your mind) and into the application so you can tell if it needs to be changed, destroyed, or finalized.

FFFC follows Demings “Plan, Do, Study, Act” model. In a rapid succesion of learning cycles you try out your idea, learn from that experience, modify and try again- all on a shoestring budget.  Fast trumps elegant early on.

An example would be to develop a look-alike or “Frankenstein” prototype made from on-hand or commercially available materials. The Frankenstein prototype gathers critical feedback from potential customers/users. Their reactions (likes, dislikes, concerns) help you determine if investing further resources makes sense and guides your step of development. Its much like taking on an entrepreneur mindset, forcing creativity and short time goals due to a limited budget.

Do you have a proven system for testing your new ideas? Let us know!

Want to learn more about the FFFC method? Contact Linda Barita at 216-391-7766 or visit MAGNET’s Product Design & Development landing page to learn more about how our engineers can help you learn how to “Fail Fast, Fail Cheap.”

Posted by MAGNET Ohio in General

Most Recent


February 22, 2018 by Sam Wasylyshyn

HEADLINE The survey definitively shows that product innovation leads to more growth, while “grow your own workforce” strategies will be needed to fill the major labor shortages hampering small manufacturer growth. Emerging technologies like the Internet of Things (IoT), 3D printing, and digital manufacturing are beginning to enhance innovation and productivity, but still have significant room for adoption amongst Ohio’s small manufacturing businesses. ABOUT THE SURVEY Under the direction of the Ohio Manufacturing Extension Partnership (Ohio MEP), MAGNET: The Manufacturing Advocacy and Growth Network conducted a thorough survey of Ohio’s manufacturing base. Contributing approximately 20% of Ohio’s jobs (and driving in some regions up to 50% of Ohio’s economy), and generating a disproportionate amount of export revenues and Gross Regional Product, manufacturing is critical to Ohio. Greater than 95% of Ohio’s manufacturers are small (under 500 employees), and these manufacturers need to remain competitive both nationally and internationally to ensure our economy’s health. Ohio’s Development Services Agency and the National Institute of Standards and Technology, which runs the MEP, recognizes the importance of this sector and fuels MAGNET and the Ohio MEP program to directly serve and support innovation, efficiency, and growth in small and medium manufacturers. What manufacturers need

Manufacturing is Facing a New Reality

February 06, 2018 by Sam Wasylyshyn

How Virtual Reality and Augmented Reality Can Help Keep Our Engineers Safe and Our Manufacturing Strong Recall how difficult it was to put together complex LEGO creations when you were a child or helping a child. Now, picture assembling a fighter plane from a room full of parts. Even highly trained engineers can benefit from technology to help improve consistency and quality. Virtual reality (VR) and augmented reality (AR) are making near-perfect assembly a possibility in the manufacturing space. By wearing AR glasses that use cameras, depth sensors and motion sensors to overlay images onto the real working environment, engineers and factory workers can visualize the exact bolts, parts, part numbers and instructions on how to assemble a particular component correctly. Lockheed Martin began using AR goggles and improved F-35 assembly time by 30 percent, in addition to increasing accuracy to 96 percent[1]. In order to remain competitive, businesses should consider the ways VR and AR can improve efficiency and supply chain productivity. According to a recent BofA Merrill Lynch Global Research report[2], AR platforms can provide companies up to 25 percent in cost savings on installation of equipment. Here are four ways VR/AR is disrupting the mid-market manufacturing space:

Is Technology Your Thing? Connect with TechLink

February 06, 2018 by Sam Wasylyshyn

Why should you consider TechLink? To date: More than 1,270 technology transfer partnerships brokered between companies and 110 DoD labs or centers, including all 65 DoD labs that generate patented inventions More than 600 license agreements facilitated between DoD and companies nationwide, transferring over 1,000 DoD inventions to industry Facilitated 60% of total DoD licensing agreements over the past 10 years What does TechLink Specialize in? TechLink specializes in 10 technology areas: Energy, BioTech, Materials, Sensors, Photonics, Software/Info Technology, Military Technology, Electronics and Environmental Technologies. 4 Ways TechLink can help you: Actively market DoD inventions to industry nationwide Help companies evaluate these inventions and submit license applications Facilitate communications between DoD labs and companies leading to “win-win” license agreements for both parties Maintain the nation’s only comprehensive database of DoD-patented inventions, fully searchable through Why should you believe in TechLink? Check out the TechLink technology database and the Technology Spotlight for regular updates on available technologies and contact information for the related Technology Manager. The Manager will help you assess the technology for your company needs, facilitate your connection with DoD, and walk you through the licensing process. Most DoD inventions have civilian and commercial applications. DoD technologies licensed by TechLink have generated