A Mistake in Testing Business Hypotheses

AVAlexander Volchek

Many businesspeople who have built a successful business will never be able to do it again. What state are you in right now? Are you in a state of freedom, broad perception, strength, firmness, confidence, unshakability, resilience, and at the same time humility, love, acceptance, creativity, and inspiration? What mistake do people make when testing hypotheses in business? What do they do wrong when they want to start a new business or launch a new line of business? I'll give you a series of things to pay attention to when looking for absolutely any business or undertaking. This is a powerful addition to taking the right next step in starting a business and expanding as a businessperson, entrepreneur, professional, and human being, including expanding and developing your business, strengthening a partnership, or creating something completely new that you've never done before. There are things you need to keep looking at, constantly and tirelessly, and most importantly, perceive. It's remarkable how much influence you have as a person, and your life is a succession of many changes. Many changes. The fact that someone's business failed five or ten years ago doesn't mean they'll now build a business with a ten-thousandfold result.

Or the fact that you were in a bad state when you ran a business in the past doesn't mean you won't be in a state of endless joy now. If you changed niches and tried new ones every six months, that doesn't mean you'll now have one niche for the rest of your life. You still have a long life ahead, decades. As a person, you carry an enormous number of combinations of different factors and points to consider when finding and building a business. People forget this to a remarkable degree. They focus on tools, automation, sales, marketing, management methods, pricing, the right niches, money, and investment. They forget that you're doing business so you can grow and expand in your life. It doesn't matter that the goal is to earn a profit. It doesn't matter that you've set yourself the goal of becoming the best-known person. It doesn't matter that you're pursuing some life's work. What matters is that any business you run is an integral part of your life and your professional development. You are the key element within that undertaking, not the niche, timing, team, resources, or experience and knowledge.

Only you. First, of course, there's your niche, your field of activity. But it's important to understand that within a particular field and niche, timing varies. Something worked in a particular niche five years ago, but doesn't work now. Fifteen years ago, a niche was very difficult, while now is precisely the time to enter it. You may now see something incredibly new and different, but the time simply isn't right. I recently recorded a video for the channel about mistakes I made in my business. One mistake I mentioned was that I very often did things too early in terms of timing. It wasn't the right time. The next factor, of course, is the team: who exactly will you do this project with? People seem to spend time on this and discuss it, yet it doesn't receive its own separate, independent focus. They understand that it's the right niche and the right time, and simply start. But who's going to put the whole business into practice? Will it be just you and your partners? Or do you have a team capable of doing it? We often look at a business and say, “Listen, if it worked for him, it'll definitely work for us.”

And we launch, comparing ourselves with someone else. But we don't know what team they have. There are an enormous number of businesspeople in the world whom we readily recognize, or who speak publicly about business, but in reality it was the team that led that business to substantial, serious success. There's a great deal to say about teams. Here, it's simply a point to pay attention to. You know there's a niche. You know there's timing. You know there's a team. The fourth important factor is resources: the resources you have available, in terms of investing money and capital, and in terms of your connections, acquaintances, and partnerships. What can you launch, and how quickly? There's a very big difference. Someone with a lot of resources—having a lot of resources doesn't necessarily mean having a lot of money. Resources are also about how you can use them. I've known quite a few wealthy people with very limited resources. They had a great deal of money, but very limited resources in terms of quick partnerships, opportunities, contacts, and various circumstances. Of course, your experience and knowledge matter. You've chosen a niche at a particular time, with an understanding of the team and the resources you have.

The question is: are your experience and knowledge relevant to these factors, to the way they intersect? Or are you not currently in a position where you understand exactly and with certainty what needs to be done? There are times when you don't need experience and knowledge. I often repeat that experience is an extremely relative thing. Many businesspeople who have built a successful business will never be able to do it again. They can't copy their own model. Here's a very good example: ask anyone with a good business to copy their own current business. Try it yourself with the businesses you have that are working, or the business model you have that works. Make an exact duplicate with the same profit and the same revenue, then another duplicate, and another. How easy is that to do? And of course, the final, incredibly important point to consider is who you are as a person and what state you're in at this moment. Are you in a state of freedom, broad perception, strength, firmness, confidence, unshakability, resilience, and at the same time humility, love, acceptance, creativity, and inspiration? Ready to bring all of this together and make a leap.

Enter a new business from a state of strength. Not some imagined external strength in the form of weapons or power, but the strength within a person: joy, ease, vitality, real confidence, when you truly believe in yourself.