Best Experimentation Business Practices

 

 

 

   

Dell

 

 

 

Michael Dell advice

Our business is by definition full of innovation and experimentation because so many things that we try haven't ever been done before.

Michael Dell<

 

 

"To encourage people to innovate more, you have to make it safe for them to fail," writes Michael Dell, the Founder of Dell Inc. in his book Direct from Dell. "If a team experiments with something and says "These are the facts. This doesn't work and here's why," that's not failure. That's a learning experience and, typically, an important milestone on the road to achieving success."

 

 

Michael Dell advice

To encourage people to innovate more, you have to make it safe for them to fail.

Michael Dell<

 

 

"To encourage people to innovate more, you have to make it safe for them to fail," writes Michael Dell, the Founder of Dell Inc. in his book Direct from Dell. "If a team experiments with something and says "These are the facts. This doesn't work and here's why," that's not failure. That's a learning experience and, typically, an important milestone on the road to achieving success."

 

 

Michael Dell advice

There's a guaranteed element of risk in any business, so experiment – but experiment wisely.

Michael Dell<

 

 

"Our business is by definition full of innovation and experimentation because so many things that we try haven't ever been done before. We're facing new challenges and can't look to history because it's not relevant... We're often faced with problems that we know represent an opportunity and it's up to us to create an entire business out of it. That's the fun staff. But we also know that if we don't do it, someone else will. We're forced to innovate to stay ahead of the competition. And when you're dealing in an industry that's changing so dynamically, there are often more unknowns than knowns."

 

Dell Inc.: Successful Practices

Sustainable Competitive Advantage

Customer-focused Culture

Fast-Paced Flexible Culture

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Reward System

 

 

 

Michael Dell advice

Encourage people to take risk. Do your best to make sure that people do a lot of experiments and learn from failures.

Michael Dell<

 

 

"You also need to embrace an experimental attitude in making decisions. Sometime you can't wait for all the data to present themselves before making a decision. You have to make the best decision you possibly can based on your experience, intuition, available data, and assessment of risk. There's a guaranteed element of risk in any business, so experiment – but experiment wisely."

 

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