What can Facebook marketing and Audience Insights teach you about growth marketing? Facebook marketing continues…
Why I LOVE being proven wrong, and why this is a key to success and lasting business….it’s the science of being wrong.
It doesn’t matter if you think like a founder/entrepreneur, and act like an employee trying to make 1 idea work…
8 times out of 10 you are taking the wrong approach – the deductive kind.
Here’s why that’s so common and so ineffective:
- Starts with a theory – basically you’re making up an idea which is normal.
- Take that theory and make up goals – we’ll make XX revenue by XX time, we’ll gather this much of a market, etc.
- Spend your time pitching customers, clients, and maybe investors, trying to prove your theory and guess when it will work.
- Observe the results – this is where bias gets in, and where most get stuck.
So many self deluding ways we fool ourselves, trying so hard to prove a theory instead of observing what they are doing and what they want.
Finally you wait for confirmation; most trick themselves even when the evidence is in front of their eyes.
Tracking so far?
Deduction assumes your idea is right and to prove it right.
The real goal is NOT confirming your own idea, it’s watching your audience and clients do what they do,
Spend your time proving your idea wrong and if it works, then it’s right…most often you’ll pivot 1-2 times.
What’s the better way?
Instead of “deduction”, try induction:
“The process of deriving general principles from particular facts or instances.”
- Observing what people do, what clients and customers do. Watching with new eyes, listening with fresh ears.
- Find the patterns – what shows up that you can improve with your business.
(Takes patience, and much more reliable)
- Now create goals – how much and how long will it take to become part of your customer’s pattern.
- THEN create the business idea, the first iteration, and think of Plan B and C – even if it’s a guess, what will you do next?
(and keep watching the patterns, because your first guess at B and C is like A, unlikely to be correct)
- Finally instead of trying to prove it true, test it and your goals to see what is the probability of them coming true?
Sit down every 90 days, adapt your plan for the next quarter, set improvement goals, and watch behaviors, channels, and your messaging.
Create a culture where people can challenge you and your executive’s ideas, and not be afraid.
Whether you are a startup, a services business trying to build a steady set of clients, or an engineer with a idea you know will change the world…
Your first idea and approach most likely won’t work.
(and shout out to Gregory Shepard’s LinkedIn post, showing how those who never pivot, or pivot more than 2 times, are less likely to survive than ones who do 1-2 pivots.)
Build like a scientist – adapt and pivot, and don’t make up an idea to prove it true.
That’s why I LOVE being wrong, because in business most likely my first idea isn’t right, and needs to adapt.
How about you?
#enterpreneur #startup #saasgrowth #pivoting