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Using the scientific method in business

Think back to elementary school. Every year, most schools hold so-called science competitions that have different experiments and displays. This event is a way for kids to test by presenting a problem or theory, testing, and then showing the data as a conclusion. It’s about teaching children the scientific method.

What is the scientific method?

The scientific method is the process of experimentation used to examine observations and answer questions. The basic procedure of the scientific method is:

  1. Make observations that explain the problem
  2. Create a hypothesis
  3. Test the hypothesis
  4. Conclude, and refine your prediction/ hypothesis.

Relevancy to entrepreneurship: The Lean Startup Method

The Lean Startup Method is the scientific method when testing your service/ product. When testing your product/ service, the scientific method is the way to help you understand the effect of that product/ service. Here is the series of the scientific method from the perspective of entrepreneurship:

1. Identify your audience and the problem

This is the origin of your product/ service. Who, what, where, when, how are the questions you will be figuring out when creating your business. Why? As entrepreneurs, our service/ products need to solve a specific problem and certain people that have those problems. Now, the question is, who is your targeted audience and what are their main problems.

2. Research their personas and the subject

This step is for you to research your user and their behaviors. You would know what the current behavior/ trends look like as things influence each other and always change.

3. Create a hypothesis (your solution: product/ service)

Now that you have an elaborate understanding of your user’s problem and behavior. Create a prediction on how your product/ service will impact/ help your targeted audience.

4. Build/ testing- A/B Testing

You can now build your product/ service. Balance your building and testing time to ensure you’re building based on evidence and data of your user’s feedback. Numbers and pieces of evidence do not lie. Experiment, re-adjust and have fun.

5. Conclude

Based on your experimentations (run more than three experiments), you will be able to analyze and report the impact/ grade of your product/ service.

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