Tags – Hypothesis Generation

What is the point of starting a business without an aim of where you want to be?

You are right. There is little value or a sense of direction in this exercise. But, it happens quite frequently.

In research, we compare this with trying to boil the ocean. You can keep trying it, but you will not get any useful data to play with. Simply, you will not go anywhere with this action.

I am mentioning research because, in this case, business is not much different.

Hypothesis Generation

You need to develop a hypothesis – a possible view or assertion that you will be working on.

Did you notice the word “possible” in the last sentence? This is because a hypothesis does not need to be true. It is just supposed to give you the ground to build upon.

And, if you think that you are not in a position to develop a hypothesis or lack the skills to do so, it is not the end of the world either. Just remember that a wrong hypothesis is better than no hypothesis. At the end of the day, at least, you will learn from the exercise, even if you were completely wrong.

And, if you need to change along the way, you will find ways to change. (You are not being judged for any of this. This is strictly an internal process).

In addition, I will also suggest being realistic from the beginning. (I am not suggesting to clip your wings, I just want you to spend time on analysis).

Comprehensive Hypothesis Generation

We live in a period of information overload.

But, I would rather have the problem of information overload than no information at all.

To develop a comprehensive hypothesis, you need to know what information is relevant to you. If after a comprehensive analysis, your hypothesis still sounds crazy, do not panic – just go bananas. You might have stuck gold unknowingly. It is time to build the business and drive towards your goal.

And, if you need help in building that empire, get in touch with us to get digital marketing and business strategy help today.[/vc_column_text][/vc_column][/vc_row]