Ep. 14 – The Science of Business Part II
5 Minute Rants by THE a.m.
A podcast predicated on the journey of business and life.
Ep. 14 – The Science of Business Part II
If you are building or creating. You are in the business of science.
Ideation and Hypothesis are the starting point.
Test it, then Ship it, and then move forward.
You will never know if it works until you actually do it.
Episode play icon
If you are building or creating. You are in the business of science. Ideation and Hypothesis are the […]
June 27, 2023
Episode Transcript
Michael Abernathy 0:09
What’s up everybody? Welcome. Welcome. Welcome. Welcome to THE a.m. guys. Welcome to 5 Minute Rants. The show predicated on the journey of life. My name is Michael Abernathy, your host. I hope you’re doing well. Hope life is treating y’all well.
Last episode, we talked about the science of business. And I really felt and even after talking someone, my partner Just about the content, different things, one thing to say is you should continue on with This. So here I am with the science of business, part two, you’ll have to forgive me as I clear, my throat, just feeling a little under the weather today. So anyways, guys, last time we talked about, if you are moving forward to build and create, you’ve really got to have that mindset of science driving you to figure out the unknown, to create, to experiment, right? You got to be able to theorize, you got to be able to have a hypothesis, you got to be able to have a way to test it, you got to be able to have a way to prove it.
By the way, this is about how all marketing works pretty much. You got to have theories, you got to have a way to measure it and test it and then you got to have a way to prove it.
Okay, and so one of the things that I think is important is actually really talking about measurement. We don’t talk about measurement. And school has done a pretty, and I’m not bashing schools, not trying to hate on anybody in particular. But I really think schools have messed us up and how we measure things. There’s either pass or fail, right? There’s all these grades. And it’s like when you get into life, there’s a lot of things in measurement that are not set in stone, like it’s fluid, okay, like, how do you measure winning at marriage? Tell me that one? Or how do you measure what professionalism is? It’s like No, those are things that I’ve got to decide. There are things that are set in stone, though, there are things that you already have automatic measurement for, okay? Like life and death, somebody is alive, they’re breathing, they’re awake, you know, death, they’ve died, they passed away those sorts of things. So anyways, going back into the measurement, This is how you’ve got to be able to run the business, run the companies, and run your position in life.
Okay. Well, if you’re trying to create, if you’re trying to build, you’ve got to be able to measure, what is the finish line that you’ve defined for yourself? What is good enough? Okay. What is good enough to continue on? So for me, you know, my measurement for, for Just marketing in general, is predicated off and this goes back to one of our other companies is predicated off what the customer defines as winning. What does winning mean to them? What does success mean to them, and then we build that whole system of measurement based off that, okay.
When we talked about the content creation company that we were working with, last episode, I talked about that. And one of the ways that we are doing measurement is based on views, okay. And so views for episodes, views for their content, interaction with their contents, where likes and shares, all these things have been measured, right. And so the thing though, that really comes to is, when you’re creating something new when you haven’t done something, and even when you’re doing something new. It’s that scientific method of having a theory, having that testing, that testing arena, to be able to prove it true or false to help you make up decisions. And so the point is to helped make decisions of whether you should continue down this path, or whether you should change lanes. Because one of the points of life is to find where you’re failing quickly, and then to change, and then to move forward into a new way. So embracing failure is actually one of the ways to fail quickly. And then what helps you embrace failure is actually being able to see where things are falling short, or things are not going in the direction that you want them or need them to go.
And so the science of business, part of life is really figuring out that unknown, figuring that out, what is it that you don’t know? And then how are you going to build something that works? Okay. Business is very hard in general, okay, in a lot of the reason why business is very hard is because there’s a lot of unknowns. There’s a lot of factors. And it’s not just a math test that you did in high school or middle school, which is multiple choice, right or wrong, true, false, that sort of stuff. There’s a lot of critical thinking. You’ve got to develop whole systems and processes to build a company for it to be able to run off of. Because if you’re if you are the key man in that company, and then you get hit by a bus, it’s called hit by bus syndrome, man, the whole company burns down. Why? Because you didn’t build it off This scientific method, actually understanding what works actually being able to create it, and actually be able to move forward, and franchise it. Franchisment is such a huge part.
anyways guys that’s it for today’s episode I hope y’all have a great day peace!