In this series we are examining what we can learn from entrepreneurs about restarting our businesses post-lockdown. Yesterday, we learned that startups test hypotheses and adapt as necessary. But, what does that look like?
Some entrepreneurs identify their most critical hypothesis and design a low-cost experiment to test it. They iterate through a “build-measure-learn” loop as rapidly as possible, zeroing in on what is true.
You may believe that everything in your business will return to normal. That’s too big of an idea. Break it down.
What is your biggest assumption? Build a low-cost experiment. Measure results. What did you learn? Adjust your model and build another experiment.
Proverbs 1:5 teaches us that “A wise man will hear and increase learning, and a man of understanding will attain wise counsel”.
Today’s Integrity Moment was adapted with permission from the writings of Russ McGuire.
