From what I've read, Transit got its start at John Hopkins. First, they verified that there was a satellite up there with some receivers they had lying around. Then they predicted where it would be with some math. Then someone what if'd whether they could reverse that problem with some brain cells.
While I agree that planning is important, very important, it can become analysis paralysis quickly. Not the case with everything, but sometimes you just have to do it, most especially if you can do it. I'm reminded of Feynmann's o-ring experiment.
With your go kart example, it would be a good idea to try that out before tackling Ford. A VC might not invest in you just because you built a go kart. But you would plan better if you succeeded and you might not invest more of your time if you failed.
The planning, including relevant applied math and physics, maybe some of it original, have been the keys to astounding DoD and many other projects done at low risk.
Like anything else, the planning can fail, but typically it is much cheaper than cutting metal, digging big holes in the ground, launching rockets, etc.
And if the planning fails, then just stop there -- cost so small it often won't be noticed. If the planning is successful, passes various reviews, etc., then are in line for some great results at low risk. In the commercial world, that would also be high ROI.
http://www.derekchristensen.com/tracking-sputnick/
While I agree that planning is important, very important, it can become analysis paralysis quickly. Not the case with everything, but sometimes you just have to do it, most especially if you can do it. I'm reminded of Feynmann's o-ring experiment.
https://www.youtube.com/watch?v=6Rwcbsn19c0
With your go kart example, it would be a good idea to try that out before tackling Ford. A VC might not invest in you just because you built a go kart. But you would plan better if you succeeded and you might not invest more of your time if you failed.
Acid tests have their worth.