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Exponential Wisdom Episode 17 – Power of Experimentation 

Peter Diamandis and Dan Sullivan discuss the power experimentation within and between fields. 

  • Experimentation is fundamental to success. 
  • Rapid experimentation through pulsing products is the best way to create great products. 
  • You no longer have to spend a fortune on obscenely expensive consultants and rely on luck. 
  • Come up with an MVP, and put it out know the world. This is how Google operates. 
  • Significant metrics from the very beginning. Week and day cycles of Experimentation. 
  • Jeff Bezos – success in Amazon is a function of the amount of experiments they do per year. 
  • Google is a huge company. If they can do it, so can any company seeking success. 
  • Also make sure that your test subjects give a representative view of the bigger market. 
  • “You don’t have to get it right, you just have to get it out there right away.” – Dan Sullivan 
  • Iterate your ideas with check writers. 
  • Experiment with conviction. That sells courage. 
  • Fatality – falling in love with your idea before the marketplace does. 
  • The people in your company are gold – they are the crowdsource for your next great success. 
  • Break your employees into teams, and give the teams a challenge to improve some facet of your company. In a few weeks, see what these diverse teams come up with. 
  • This is fun for employees, and these are the challenges that they think about even in their free time. They happily spend the mental energy on it. 
  • Instead of trying to keep up with technology, just learn about experimentation. 
  • Always learn about new methods to experiment. 
  • Embrace failure, celebrate it, and learn from it. 
  • Google isn’t smarter or getting it right. Google is ripe with failure, more than success. But they test all ideas possible and quickly let go of the bad ones. 
  • For a couple of rock star successes, you need to have a hundred times as many failures. 
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