As a reminder this is part of the ExE Formula videos. If you don’t remember it or don’t know about it you can go to this little blog and come back.
Are you ready to start bold experiments? Are you all set to include a culture of experimentation in your company?
Without breakthroughs, it’s close to impossible to become an exponential entrepreneur. A breakthrough is a typical characteristic that distinguishes bold entrepreneurs and marks another big difference between traditional linear entrepreneurs and truly exponential entrepreneurs.
The easiest way to create a breakthrough is through experimentation. Breakthroughs have a direct correlation to your commitment to finding a solution to a specific problem.
Because finding solutions, initially is complicated, it may take a series of experiments to arrive at the truth, whether the hypothesis is that humans can survive on planet Mars or find the right market fit for your earthly product. Therefore, falling in love with experimentation is a must for any aspiring ExE.
Jeff Holden, who has built high-level experimental engines at Groupon, Uber, and Amazon advises entrepreneurs: “The philosophy is you have to build your company to be a big experimental engine, and it has to start right at the beginning. “
On the other hand, Jeff Bezos likes to say, “Our success at Amazon is a function of how many experiments we do per year, per month, per week, per day…”
To become an ExE you constantly need to be asking the following question: What is the hypothesis? The next question: What is the value proposition for your company?
Remember that if you already know the answer, you are wasting time and money. The same applies to the ExE testing insignificant details that do not affect the main value proposition of your company. Entrepreneurs must ask good questions that allow them to run good experiments to get good results.
These results may be insignificant at first but will become the breakthroughs that allow solutions to some of the most pressing problems for humanity. As I mentioned before, this experimentation mindset may also increase your fortune exponentially.
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