1. Multiple, small experiments.
Sometimes even the most brilliant, well thought-out marketing executions fall flat. Investing in one big idea for it to fail can land you in hot water. It’s safer to hedge your bets – experiment with a few ideas and try to keep costs low.
2. If you wait until you’re ready, you’ll wait forever.
Not every experiment will be a huge success – some experiments will fail. Release your product or service to market as soon as you can and let the market give you feedback; this is a quick way to know whether you are offering something that people want.
3. Open space = Opportunity.
Experiment in open spaces – areas where competitors don’t exist. If there are no open spaces, experiment where your competition is weakest – don’t go head-to-head with the Goliaths in your market, you will lose.
Attack areas where you perceive yourself to be strong. As with any new venture, there will be stumbling blocks – the confidence you have in your perceived strengths will help you overcome these.
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