When it comes to Innovation, entrepreneurs must learn how to apply processes to extract value, not just sit with the idea in their mind. But once a product or service is being offered, entrepreneurs must look at how they can manage expenses. That kind of decision making becomes tricky when you are trying to innovate for customers — what expenses are worth the budget? One book that can help with that decision making is Cost-o-vation: Innovation That Gives Your Customers Exactly What They Want and Nothing More by Stephen Walker and Jennifer Luo Law.  The book offers the right blend of bringing forth innovative ideas with managing costs that support the effort. Both authors, leading execs at New Markets Advisors in Boston,  bring a wealth of business acumen and leadership on innovation initiatives.  Walker is a managing director of new markets advisors, a longtime collaborator with Harvard Business School Professor Clayton Christensen. He publishes frequently in Forbes Harvard Business Review and Financial Times. Law is an associate principal at New Markets Advisors and a former Fullbright Fellow.  She has lead innovation initiatives across a number of industries. What Is Cost-o-vation About? The main idea behind Cost-o-vation is determining how to cut costs while still providing surprising innovations to delight your customers. The book’s focus is timely given the pressures to constantly innovate to keep up with competitors.  Fortunately, Walker and Law assert innovation does not necessarily mean give customers the world. In the book, they write, “Innovation is typically thought to mean more: more options, more features. What makes cost ovation so radical is that it flips this understanding on its head and says that sometimes the winning approach is to do less.” The chapter summaries explain the process needed to put this understanding into practice, while case studies examine successes including brands ranging from LegalZoom to Planet Fitness. Readers will hear success stories from various industries and from less well-known companies, such as Bridge International Academies. This company provides operation services for educational institutions in emerging markets.  A checklist at the end of the book is super handy for business readers that…