Fail Often, but Fail Early
It is with a heavy heart that I have to announce that I have decided to put the Spaces for Ideas Collection 2 on hold indefinitely.
After taking a hard look at the new prototypes, I am unable to get the design and marketing mix right. The cost to make the Story Book and Iteration Book is not economically viable in the volumes I can afford. Initial user feedback have also supported this by highlighting that the selling price vs. product offering is just not compelling enough.
The reality is that launching products into the market is a calculated risk. If I had the funds, and this is all self-funded, I would trust my gut and launch the product. But this time I don’t have the funds, so my gut says no.
This second collection is by no means killed. However this time I am going back to the drawing board for a complete rethink and redesign. I am planning to bring in some help to see where I can take the range. Often it takes a fresh set of eyes and perhaps a different angle to get the mix right.
I’ve spent so much time on this project that it is criminal. I could have gone on and on, but I’ve hit my self imposed dateline and it is time to pull the plug. I’m contented that I’ve covered almost every possible iteration and have the many mock-ups and prototypes to document my process. Mock-ups cost far less than a production run, and as they always say, fail often but fail early.
The Space for Ideas brand will continue with the Expandable Sketchbook being the brand’s only product for the time being. I have by no means exhausted all possible sales channels for the Expandable Sketchbook, and the awesome December sales figures tell me that demand for this product remains healthy.
Interestingly, as I’m about to publish this post, I feel strangely liberated. Closing this project has freed up much or my mental capacity and a weight off my shoulders. This also means I can focus on other aspects of Design Sojourn’s business such as consulting and training. If anything, this is the reason why I had to go through this whole convoluted but enjoyable process. You should try it sometime!