The #1 Way To Reduce Risk
In the finance world, it's common knowledge that portfolio diversification is the #1 way to reduce investment risk.
For us non-financy folk, the big idea behind diversification is that it's most likely you will make more money from investing in many stocks (even if you're not good at managing them) than if you invest the same amount into just one stock.
Your innovation portfolio is no different. It too becomes much less risky when it's diversified.
Place many small bets.
Test many product ideas early and fast.