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You: The Science Experiment

You: The Science Experiment
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    I don’t expect you’ll be drinking mystery potions or hooking yourself up to a car battery anytime soon. But conducting personal experiments are probably the best way to find answers. By actually testing (instead of assuming) your habits, beliefs, methods and systems you can make real improvements.

    Stop Theorizing, Look at Results

    Nassim Nicholas Taleb, in his book The Black Swan, recommends against using complex theories if they can’t predict anything. Humans are theory machines, trying to explain things which might not easily fit into our reduced model of reality. By experimenting, you look at what actually works, not just what you feel should work.

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    If you set up your personal experiment appropriately, the results should speak for themselves. I know many online business owners who use A/B split tests religiously. Instead of assuming they know what will sell, they simply divide web traffic between two different pages and see what drives results.


    Gaps in Knowledge

    Humans have an ability to focus on what we do know, instead of what we don’t. The way we store information neatly conceals our own ignorance. And it is in these gaps that you can often find new opportunities and solutions. But if your own arrogance keeps you from trying, you may miss them entirely.

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    An experiment can fill those gaps. By giving an idea a full test, you get information that wouldn’t be available simply by guessing.

    Reduce Bias

    A personal experiment can never reach the calculated and sterile environment of a double-blind trial. But personal experiments reduce the chances that you’ve been acting on superstition instead of results. How would your life change if you found out:

    • You could do all your e-mail work once a day (or once a week!)
    • Your energy levels doubled after increasing your exercise and improving your diet.
    • Using a different technique you could cut studying time in half while learning more.
    • Using gap time you can read a book per week without cutting time from your schedule.
    • One work activity you regularly engage in has almost no effect.

    You probably already have assumptions about the answers to these questions. Experimentation means you are bold enough to say, “I don’t know.” Being skeptical can let you trust the results of a test, more than superficial theories.

    How to Run a Personal Experiment

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    Achieving objectivity with a sample size of yourself isn’t possible. But simply throwing scientific practice to the whim and “trying things out” is likely to lead to more bias, not less. Maintaining some measure of objectivity when testing ideas will ensure you get accurate results and they aren’t polluted by your own prejudices.

    Here are some steps to running an experiment:

    1. Isolate Measurements. An experiment needs to measure something. Quantitative results (weight, traffic, income) are better than qualitative ones (happiness, service, stress). But more important is to choose measurements that accurately reflect your goal. Picking the wrong measurement will tune your experiment to focus on incorrect results.
    2. Stay Consistent. Testing to see whether a different work routine is better won’t help if you try different routines every day. Outline your experiment on paper and commit to following it for a specified length of time. Shortened trials and inconsistent data make experiments worthless.
    3. Keep Comparison Information. Most scientific experiments have a control group. This ensures that there is a real difference instead of an imagined one. In some areas you can get comparison information through a split test, dividing inputs between your experiment and the control. In other areas you will need to be satisfied with a careful record of pre-experiment results to see if changes have occurred.
    4. Withhold Early Judgement. Ignorance and humility are the keys to running a successful experiment. Pulling the plug too early might not give enough time to show results. I usually spend a month or two testing an experiment before I decide if it is worthwhile.

    Experiments to Try

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    The world isn’t obvious. That statement itself may sound a little obvious, but I believe it is too often missed. We expect the world to behave according to explicit theories inside our head, when in reality, it is far more complex. Experimentation and focusing on actual results, allows you to take advantage of your ignorance.

    Here are some ideas you might want to consider trying:

    • Internet Once a Day – Set an internet time once a day for all e-mail, surfing and contact. I’ve done this before and been amazed at how much my net usage can be compressed.
    • Daily Exercise – A few weeks ago I posted an article on changing habits, where I recommended exercising every day if you plan to start. A few commenters informed me how this would lead to injury. Although I don’t recommend hurting yourself, I haven’t seen this to be the case in myself or many people I know. Poor form from trying to lift too much weight is a more likely culprit.
    • Go Veg – I’m a fan of a vegetarian diet because I believe it works to give more energy. But don’t trust me, trust an experiment for yourself.
    • Morning/Night Work – Try waking up early to get work done. Or try working on projects later in the night. Different rhythms work best for different people and lifestyles. Experiment, don’t judge.
    • Time Usage – Be skeptical of the efficacy of anything you spend time on. Test ruthlessly, because a small test can end up saving thousands of hours in otherwise wasted productivity.

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    Last Updated on August 28, 2018

    5 Key Characteristics of a Successful Entrepreneur

    5 Key Characteristics of a Successful Entrepreneur

    I’ve heard a lot of great business ideas lately — and more than a few people announcing that now is the right time to go into business for yourself. I think that there’s a lot to be said for becoming an entrepreneur during a down economy — although the risks definitely go up.

    With your own business, especially if you hold on to your day job as long as possible, you’ve got more flexibility if you get a pink slip.

    But starting your own business is certainly not for everyone. There are certain characteristics that can significantly improve the odds of succeeding as an entrepreneur. Without these characteristics, though, it’s hard to do well even with the best of business ideas.

    Here’re 5 key characteristics of an entrepreneur for starting successful businesses:

    1. Discipline

    Plenty of business experts claim that you can’t get anywhere as an entrepreneur without vision or creativity, but that’s simply not the truth. Instead, the one quality that no entrepreneur can be successful without is discipline.

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    To build an idea into a business, you have to have the discipline to spend time slogging through the least fun parts of running a business (like the bookkeeping), rather than taking that time to do something fun.

    When you’re the boss, there’s no one to keep you at work except yourself — and there’s no short-term consequences for skipping out early. Sure, if an entrepreneur plays hooky enough he knows that the business just won’t happen, but it’s very hard to convince someone that ‘just this once’ won’t hurt (and to keep ‘just this once’ from becoming a daily occurrence).

    2. Calm

    Things go wrong when you run your own business.

    Most entrepreneurs go through crises with their businesses — and more than a few wind up with outright failures on their hands. But when you’re responsible for a business, you have to be able to keep calm in any situation. Any other reaction — whether you lose your temper or get flustered — compounds the problem.

    Instead, a good entrepreneur must have the ability to keep his cool in an emergency or crisis. It may not make the problem easier to solve, but it certainly won’t make it harder.

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    If an entrepreneur can handle failure without frustration or anger, s/he can move past it to find success.

    3. Attention to Detail

    Restricting your attention to the big picture can be even more problematic than ‘sweating the small stuff.’

    As an entrepreneur, unless venture capital has magically dropped out of the sky, a small expense can be a killer. It’s attention to detail that can make a small business successful when it has competition and it’s attention to detail that can keep costs down.

    Attention to detail can be difficult to maintain — going over ledgers can be tedious even when you aren’t trying to pay close attention — but keeping your eye on a long-term vision is just asking for a problem to sneak in under a radar.

    After a business grows, an entrepreneur might be able to hire someone to worry about the details. In the beginning, though, only one person can take responsibility for the details.

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    4. Risk Tolerance

    No entrepreneur has a sure thing, no matter how much money s/he stands to earn on a given product. Even if a product tests well, the market can change, the warehouse can burn down and a whole slew of other misfortune can befall a small business.

    It’s absolutely risky to run a business of your own and while you can get some insurance, it’s not like most investment options. Even worse, if something does go wrong, it’s the entrepreneur’s responsibility — no matter the actual cause. In order to deal with all of that without developing an ulcer, you have to have a good tolerance for risk.

    You don’t need to channel your inner frat boy and take on absolutely stupid risks, but you need to know just how much you can afford to risk — and get a good idea of how likely you are to lose it. If the numbers make you uncomfortable, the risk is too great.

    An entrepreneur has to be willing to accept pretty big risks, with some level of comfort.

    5. Balance

    You can take any characteristic too far. There’s a point at which attention to detail can become obsession or calm can become unemotional response.

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    As an entrepreneur, you have to be able to balance your characteristics, getting the most of them without going over the edge. But balance for an entrepreneur goes far beyond keeping your characteristics in check, though.

    Just as an entrepreneur doesn’t have a boss to keep them at work when necessary, they don’t have one to send them home when they’re done. If you are working for yourself, you have to decide how to balance your work and home life — and if you have a day job to add into the equation, balance just gets more complicated.

    The bottom line

    The characteristics I’ve listed below are not characteristics that a person is born with. Some people do seem to have an aptitude for those qualities that make up the entrepreneurial spirit — but they can be learned.

    They aren’t the easiest things to learn, admittedly, but it’s not impossible. You won’t find classes in these subjects, but you can teach yourself, if you truly want to.

    Featured photo credit: Unsplash via unsplash.com

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