How To Design Smart Business Experiments

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Identifying The Right Capital Partners

Nothing but a success in a testing environment should be rolled out more broadly. Refine the hypothesis on the basis of the results, and consider testing a variation. Most important, capture what’s been learned, and make it available to others in the organization through a “learning library,” so resources aren’t wasted proving the same thing again. The real payoff will happen when the organization as a whole shifts to a test-and-learn mind-set.

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They need training programs to hone competencies, software to structure and analyze the tests, a means of capturing learning, a process for deciding when to repeat tests, and a central organization to provide expert support for all the above. To begin incorporating more scientific management into your business, you’ll need to acquaint managers at all levels with your organization’s process of testing. It is probably simple to grasp (a typical filepapa depiction is shown in the exhibit “Put Your Ideas to the Test”), but it must be communicated in the same terms to people across the organization. Having a shared understanding of what constitutes a valid test enables the innovators to deliver on it and the senior executives to demand it. Enrollment in Experian's Business Credit Advantage program also provides your business with business identity monitoring powered by CyberAgent®.

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