- Going from 0-1
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- Afraid to try something new?
Afraid to try something new?
How to approach experimenting in your business.
Most businesses don’t experiment enough.
I remember when we built our first startup.
Our customer acquisition strategy: Cold Email.
It wasn’t working and we never changed.
We just did the same thing expecting a different result.
Until we completely ran out of cash…
So how should you go about experimenting in your startup?
So you can find what works for your business.
Let’s talk about it ⬇️
Pro-Tip: Start small and scale based on results
It is easy to think that when you are trying something new.
You have to go from 0-100 immediately and make this massive change to your business.
This doesn’t have to be the case.
Instead, think small and test things out incrementally.
Choose a tiny percentage of the audience and see how they react.
Pay attention if helps you move the needle.
Are you getting meetings booked?
Are you getting more interest?
Are you getting more customers?
If you see it working double down.
If not ease back.
This is the path to discovering what works from what doesn’t.
Pro-Tip: Find inspiration from customer feedback.
If you are engaging with your target market daily.
Then you should be hearing a lot of feedback.
Your ideal customer will tell you how they want to work with you.
What they are looking for and what their needs are.
Use those moments as opportunities to test new things and pay close attention.
Is that adjustment helping you land new deals?
Is it creating less friction and increasing your rate of traction?
These are important to take note of as you try new things and gauge the
market’s reaction.
Pro-Tip: Don’t get lost in the land of assumption
It is easy to get stuck in the land of assumptions.
A lot of the time you might not even realize you are doing it.
One question that is vital to ask yourself to make sure you are not making risky decisions about your business.
“How do I know I am right.”
The best way to know if you are right is from your primary data.
The more frequently you can launch experiments the better your ability to acquire the primary data you need to make the best decisions on behalf of your business.
Most importantly it keeps the voice of the customer at the forefront.
Which means you are being guided by the right information.
And not trusting your intuition to the point of delusion.
Any question you have about your business should be answered with an experiment.
Which means that anything can be turned into an experiment.
Once you start training yourself to think that way.
Building startups in the 0-1 is largely just that.
Trying to do things, failing or succeeding, and learning from the result.
To do that, you don’t have to roll things out to everyone all at once.
Pick a small percentage of your audience, test, and stay disciplined by establishing
key success metrics from the start.
Start playing around with a new channel that could help bring in more business.
Because at this stage in the game what do you have to lose?
That being said…
What are you waiting for?
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