TFS: Entrepreneurial risk-taking in the context of bad options
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All Marketing is Experimentation

The reliance on "best practices" in marketing is a joke. The environment is constantly changing, and we can't predict the 'unknown unknowns.' Tq130817fdThe best we can do is prepare to deal with variance. Successful marketers will catch a trend because they are ready to experiment, to accept negative outcomes, and to deal with risk.

Marketing Experiments: Creating a Good Hypothesis, 2013-Jul-11, by Lauren Maki

By definition, a hypothesis is a proposed statement made on the basis of limited evidence that can be proved or disproved and is used as a starting point for further investigation.

Let’s break that down:

It is a proposed statement.

  • A hypothesis is not fact, and should not be argued as right or wrong until it is tested and proven one way or the other.

It is made on the basis of limited (but hopefully some) evidence.

  • Your hypothesis should be informed by as much knowledge as you have. This should include data that you have gathered, any research you have done, and the analysis of the current problems you have performed.

It can be proved or disproved.

  • A hypothesis pretty much says, “I think by making this change, it will cause this effect.” So, based on your results, you should be able to say “this is true” or “this is false.”

It is used as a starting point for further investigation. Get a template.

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