Living Entrepreneurship Blog / Babson Entrepreneurs

I’d Like To Think…

… But do you really know? Are you actually thinking, or did the thought just pop into your head and you’re just verbalizing it?

Sure, you would like to think, but why not actually have a valuable thought?!?!

What I mean is that a lot of entrepreneurs, especially first timers, act without thinking, and don’t use enough valuable information in their decision making.

Don’t jump just because your instincts tell you to. Jump because the facts support your action to jump.

Of course, don’t spend too many hours or too many days finding the facts before you leap. That’s just inefficient. Make moves by being a lean startup and learn about the outcomes of your decisions and change up your actions in hopes of better outcomes. Building a business is, to some extent, a calculated game. Play with the data, and learn from it, and make informed decisions about how to improve your business after learning and testing.

We wanted to just make suits and dress shirts at first, but that didn’t work out.

Then we switched our men’s dress shirts over to custom dress shirts. But that wasn’t enough.

Finally, we realized our product isn’t exactly a custom dress shirt, it’s a co-created dress shirt. It’s more than your slim fit dress shirt or your athletic fit dress shirt.

We used to think that we could just build a great, lean business by having a cool design experience allowing customers to really have anything they wanted. But then we looked at the data and learned about how to really tailor our product to better serve our customer.