Is Starting a Business an Art or a Science?
Two business professionals differ in their views of launching a start up. One says entrepreneurs should trust their instinct. The other says being mindful of data pays dividends.
Business as Art
High profile entrepreneurs like Steve Jobs or Richard Branson have made decisions that seem crazy to the rest of us. In fact, becoming a successful entrepreneur entails lots of illogical behavior, says Steve Blank, professor of entrepreneurship at Stanford and Berkeley. But that does not necessarily mean entrepreneurs are reckless or short-sited. "People attribute radical decisions to their guts," says Blank, "but there is actually a lot of hard thinking and information processing that goes on subconsciously before there's a pattern match."
Business as Science
Kay-Yut Chen, principal scientist at Hewlett-Packard Laboratories, says that a more data driven approach can help businesses succeed more than trusting instinctive decision making. Data can show us counterintuitive facts like the paradox of choice, for example. Businesses may assume that the more choice they offer their customers, the better. But research shows too much choice can paralyze our decision making faculty. Following the numbers can also tell someone when to throw in the towel, a decision often obscured by emotional attachments.
Photo credit: shutterstock.com
Giving our solar system a "slap in the face."
- A stream of galactic debris is hurtling at us, pulling dark matter along with it
- It's traveling so quickly it's been described as a hurricane of dark matter
- Scientists are excited to set their particle detectors at the onslffaught
The ability to speak clearly, succinctly, and powerfully is easier than you think
The ability to communicate effectively can make or break a person's assessment of your intelligence, competence, and authenticity.
Once again, our circadian rhythm points the way.
- Seven individuals were locked inside a windowless, internetless room for 37 days.
- While at rest, they burned 130 more calories at 5 p.m. than at 5 a.m.
- Morning time again shown not to be the best time to eat.
SMARTER FASTER trademarks owned by The Big Think, Inc. All rights reserved.