What does the word “experiment” mean to you?
If it evokes memories of the science laboratory at school – test tubes, white lab coats and Bunsen burners – perhaps it’s time to think again.
We’re all familiar with the philosophy of “innovate or die,” but change can be risky, especially if things currently seem to be going well.
That’s why you need to run business experiments to test new products and strategies before rolling them out on a larger scale.
Our article on Business Experiments looks at how you can design and implement small-scale studies that mitigate the risk of failure, and provide opportunities to refine your innovation to make it even better. Read it here.
Question: How do you test out new business ideas? Join in the discussion below.