CHAPTER 10
Improve the Odds
“There are two ways to get fired from Harrah’s: stealing from the company, or failing to include a proper control group in your business experiment.”1
—GARY LOVEMAN, HARRAH’S ENTERTAINMENT CEO
The very first Siren we discussed in Chapter 4 was the Expanding Portfolio. This Siren may be one of the most attractive because it promises success while staying close to home. It is the potent combination of two thoughts that creates the pull: (1) most new products fail, and (2) a slightly different version of a successful existing product is likely to sell at least something.
These statements ignore the fact that incremental line extensions may also cannibalize existing sales and such moves are unlikely to launch you into ...
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