Business experiments are not natural experiments
One of the reasons that doctors have the potential to be entrepreneurs is their training in the scientific method.
One way to avoid creating products that will fail or using a business model that is not desirable, feasible and viable it to repeatedly test your business ideas.
Vastly increasing the capacity to conduct online experiments is becoming more critical as the expanding capabilities and applications of artificial intelligence—particularly generative AI—reshape innovation. Scaling up experimentation entails moving away from a data-scientist-centric approach to one that empowers everyone else on the product, marketing, and sales teams to run experiments.
Scaling up experimentation entails moving away from a data-scientist-centric approach to one that empowers everyone on product, marketing, engineering, and operations teams—product managers, software engineers, designers, marketing managers, and search-engine-optimization specialists—to run experiments.
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However, business experiments are not natural or purely scientific experiments because:
Experimenting is a core component of the entrepreneurial mindset. Unlike medicine and science, where you often have to test a lot to learn a little, business experiments should be done by testing a little and learning a lot.
Arlen Meyers, MD, MBA is the President and CEO of the Society of Physician Entrepreneurs
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