Learn more about business 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
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
MORE IDEAS ON THIS
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 ...
4
24 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 an...
4
11 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 dimen...
4
7 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time and costs of data scientists and IT groups is spent cleaning up data due to, for example, inconsistent inputs and outdated views of buyer behaviour and legacy assumptions.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
CURATED FROM
CURATED BY
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving & library
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Personalized recommendations
—
—
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