Test everything: most ideas fail; winning strategies are never obvious upfront
Even successful businesses see only one in three tests succeed. Industry experts routinely expect that only one in five to one in ten brilliant ideas will actually work in the marketplace. If you're not prepared for that failure rate, you'll personalize every miss and stop experimenting. The mindset that protects you is simple: everything is a test. Not a validation of your worth. Not proof you're on the right track. A test. Winning strategies are almost never obvious before testing — if they were, everyone would already be using them. Build the expectation of failure into your operating model so that individual failures don't stop the experimentation that eventually produces the winners.
Relevant Clips3
- Answer1:32
Everything Is a Test Mindset for Serial Experimentation
Adopt the mindset that 'everything is a test' and expect that most ideas won't work. This keeps you experimenting and learning rather than getting discouraged by individual failures.
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Even Experts Expect Only 1 in 5 Ideas to Work
According to Eben Pagan's analysis, even successful businesses see only 1 in 3 tests succeed, with industry experts expecting only 1 in 5 to 1 in 10 brilliant ideas to actually work.
- Answer6:02
Winning Strategies Only Become Obvious After Successful Testing
Winning strategies often aren't obvious before testing and only become clear after successful implementation. If strategies were obvious, everyone would already be using them.