Titlebook: Beyond the Business Plan; 10 Principles for Ne Simon Bridge,Cecilia Hegarty Book 2013 Palgrave Macmillan, a division of Macmillan Publisher

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Principle 2 — Don’t Commit More than You Can Afford to Lose case, it has been said that enterprise is spelt R-I-S-K. Some people try to quantify the risk and reduce the uncertainty through market research, but that can be expensive and, as Illustration 3.3 suggests, rarely works. Saras Sarasvathy found that the ‘expert’ entrepreneurs she interviewed distrus

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Principle 5 — The Only Reliable Test Is a Real Oneting prior market research to try to assess likely reactions and thus reduce the risk that an offering will not work. Market research should thus be the sensible option, but the problem is that often it doesn’t work. The only way you will really know if something new works is to try it.