Learn more about economics with this collection
The value of hard work and persistence
How to stay focused on long-term goals
How to learn from failures and setbacks
Effective experimentation
Experimentation fosters innovation, but it can also consume time and resources. To make experimentation productive in your organisation, you must manage the following conditions:
- What you learn from experiments
- How you apply what you learned
- The opportunities that come from your learnings
- The conversations you have with colleagues about your findings
4
22 reads
Understand testing in business conditions
Managers often assume that testing a new product, price, or service means approaching it like a clinical trial in medicine with a hypothesis and validation. But business is different. You seldom have a chance to do randomised trials. Instead, you have to alter the product or price while in use and in conditions you can't control.
Some tests may be unnecessary if you use existing data and literature. Consider the opportunity costs in testing and adjust the methodology and scope.
4
11 reads
Mind your data
You need reliable data. Over 80% of the time and costs of data scientists and IT groups is spent cleaning up data due to, for example, inconsistent inputs and outdated views of buyer behaviour and legacy assumptions.
You should build tests from data you are confident about.
4
8 reads
Establish decision-making criteria
The most difficult challenges in testing are internal processes. While managers are good at asking questions, they fail to specify what would constitute a feasible answer to those questions. Managers must always interpret data with a specific end in mind.
For example, pricing has many dimensions, such as base price, discounts, rebates tied to volume, special offers, etc. The evaluation criteria for price testing should be established because testing means evaluating alternatives.
4
7 reads
Small ideas can have a bigger impact with less risk
Companies tend to allocate testing time and money to large initiatives while ignoring small ideas that can have a bigger impact. Seek progress, not perfection. Invest in processes that encourage employees to submit small ideas.
- Use your website purchase interactions. For example, when airlines ask if a trip is for business or personal, they gain insight into price sensitivity for upgrades.
- Occasionally rotate the questions you ask to gather insights from a different perspective.
- Engage users and non-users.
4
10 reads
CURATED BY
Related Collection
MORE LIKE THIS
Ready for the next level?
Read Like a Pro
Explore the Worldās
Best Ideas
200,000+ ideas on pretty much any topic. Created by the smartest people around & well-organized so you can explore at will.
An Idea for Everything
Explore the biggest library of insights. And we've infused it with powerful filtering tools so you can easily find what you need.
Knowledge Library
Powerful Saving & Organizational Tools
Save ideas for later reading, for personalized stashes, or for remembering it later.
Start
31 IDEAS
Start
44 IDEAS
# Personal Growth
Take Your Ideas
Anywhere
Organize your ideas & listen on the go. And with Pro, there are no limits.
Listen on the go
Just press play and we take care of the words.
Never worry about spotty connections
No Internet access? No problem. Within the mobile app, all your ideas are available, even when offline.
Get Organized with Stashes
Ideas for your next work project? Quotes that inspire you? Put them in the right place so you never lose them.
Start
47 IDEAS
Start
75 IDEAS
My Stashes
Join
2 Million Stashers
4.8
5,740 Reviews
App Store
4.7
72,690 Reviews
Google Play
Shankul Varada
Best app ever! You heard it right. This app has helped me get back on my quest to get things done while equipping myself with knowledge everyday.
ā
Ashley Anthony
This app is LOADED with RELEVANT, HELPFUL, AND EDUCATIONAL material. It is creatively intellectual, yet minimal enough to not overstimulate and create a learning block. I am exceptionally impressed with this app!
ā
Sean Green
Great interesting short snippets of informative articles. Highly recommended to anyone who loves information and lacks patience.
ā
samz905
Donāt look further if you love learning new things. A refreshing concept that provides quick ideas for busy thought leaders.
ā
Jamyson Haug
Great for quick bits of information and interesting ideas around whatever topics you are interested in. Visually, it looks great as well.
ā
Ghazala Begum
Even five minutes a day will improve your thinking. I've come across new ideas and learnt to improve existing ways to become more motivated, confident and happier.
ā
Giovanna Scalzone
Brilliant. It feels fresh and encouraging. So many interesting pieces of information that are just enough to absorb and apply. So happy I found this.
ā
Laetitia Berton
I have only been using it for a few days now, but I have found answers to questions I had never consciously formulated, or to problems I face everyday at work or at home. I wish I had found this earlier, highly recommended!
ā
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Access to 200,000+ ideas
ā
Access to the mobile app
ā
Unlimited idea saving & library
ā
ā
Unlimited history
ā
ā
Unlimited listening to ideas
ā
ā
Downloading & offline access
ā
ā
Personalized recommendations
ā
ā
FAQ
Claim Your Limited Offer
Get Deepstash Pro
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates