IAM2329 – How Experimentation Drives Success in Business
Special Episode by Gresham Harkless Jr.
In this special episode, Gresham Harkless emphasizes the significance of experimentation in business, particularly in the early stages.
He discusses how trying different strategies, testing ideas, and being open to trial and error can lead to finding the right approach.
Gresham highlights the value of A/B testing — comparing two variations of a strategy or offer to see which performs better.
He explains the importance of tracking data such as impressions, clicks, conversions, and other key performance indicators (KPIs).
Moreover, he believes business owners should create space to experiment, which fosters innovation and growth.
- Blue Star Franchise: http://bluestarfranchise.com
- Browse the Franchise Inventory: https://bluestarfranchise.com/franchise
- Is franchising right for you? Check this out to see: http://bluestarfranchise.com/assessment
- Franchise CEO (A CBNation Site – coming soon) – http://franchiseceo.co
Check out our CEO Hack Buzz Newsletter–our premium newsletter with hacks and nuggets to level up your organization. Sign up HERE.
I AM CEO Handbook Volume 3 is HERE and it's FREE. Get your copy here: http://cbnation.co/iamceo3. Get the 100+ things that you can learn from 1600 business podcasts we recorded. Hear Gresh's story, learn the 16 business pillars from the podcast, find out about CBNation Architects and why you might be one and so much more. Did we mention it was FREE? Download it today!
Transcription:
The full transcription is only available to CBNation Library Members. Sign up today!
Intro 00:00
Hello, hello, hello. This is Gresh from the I AM CEO Podcast. And this is a special episode of our I AM CEO Podcast.
And this is actually going to be a snippet of a snippet, so to speak. I'm just doing an intro because I've been starting to document my journey to starting what is now called BlueStar Franchise.
We're also going to do a kind of sub site within CBNation called Franchise CEO. So you'll see some links in the show notes related to that.
But just wanted to give you a little bit more insight, give you a little bit more color in some of the aspects of why I'm actually doing this.
Because one of the things I was doing as I was going to try and start up this new business was realizing and hearing from the founder of FBA, the Franchise Brokers Association, that it'd be really cool to document your journey going through and building this out.
I think it's something that would be super helpful obviously for people that are looking for and thinking about starting franchises.
But frankly, if you're starting anything, any type of business, I think it's really cool to kind of just even see the journey and how it's been going from there.
So I'm going to share a few of those snippets from the first couple of videos that have been created.
But definitely, of course subscribe to our YouTube, check out a lot more where I figure out exactly where we're gonna post this.
So I have that that's available to you. But regardless, if you're a builder, continue.
So I'll have that information that's available to you. But regardless, if you're a builder, continue to keep building, continue to do your thing.
The world definitely needs exactly what you're trying to build and needs you to be your unique self.
So make sure to run your own race because nobody can run your race like you. This is Gresh signing out. I hope you have a phenomenal rest of the day.
Gresham Harkless 02:24
Hello, hello, hello. This is Gresh and I think it's day 25 of the Franchise broker journey. I didn't really know what I wanted to talk about today, but actually yesterday I went through and I started to look at all the experiments I was.
Doing all the things and seeing like what results there were. So I think that's probably a two part thing that I really wanted to about camera home today was.
Of course having that spirit of experimenting and doing things, trying things out is going to be insanely huge because you don't even know what work all the time.
I don't know what you're gonna even love doing. You don't know what's gonna necessarily feel in alignment.
[restrict paid=”true”]
So one of the big things, that kind of camera for me is that I want to have that spirit of just trying things, of testing things out, of figuring out what works or what doesn't work.
But one thing I don't always do a great job of is keeping track of what these experiments are, of closing experiments when they don't kind of bear.
Those fruits and bringing those things out. So the idea is kind of like to do like an A/B test, a rapid A/B test.
You have kind of two things you tested out, essentially, and then you continually kind of tweak those things until you get to ultimately where you want to be.
Mines is a lot of times being an A, B, C, D, E, F, you can get the idea of like exactly how those sets are.
So it becomes a lot harder to be able to kind of iterate between two or three, four, five, six different things.
So you want to try to keep it to maybe two different things, maybe three different things that you're kind of testing out simultaneously.
But I am notorious for trying out lots of different things, doing things against the wall.
But that's not necessarily always bad, especially those two things. So three things or four things are.
Not kind of competing or they're sometimes things that you just kind of sit in and see what's happening.
But you want to kind of look at that data. I think that's the biggest thing that I wanted to kind of hammer home today is that data, especially if you're doing stuff from a digital standpoint, is going to be huge.
So whether we're talking about impressions, clicks, actually setting up time to speak or offers or whatever, the KPI that you're measuring is going to be huge to kind of track.
But one of the reasons I bring it up so much is that because if you're getting a lot of impressions, but people are clicking, maybe it's something around the copy or the offer or something along those lines that is not resonating if you have an Ad that you're putting up.
But on the flip side, if you are getting a lot of clicks but people are converting, maybe something along the way of a landing page, or maybe it's too slow, or maybe it's not the right offer, or maybe people just don't have a good journey to that landing page.
So whatever that might be, it gives you a little bit more of a awareness around what's working and what's not when you have that data that you can lean on.
But you never know if it's even worthwhile. So sometimes when you do it and you set it out, it doesn't end up happening.
And you end up saying that hey, this isn't necessary for me. So maybe that's how it goes. And with sort of important to make sure that you are doing that.
This is for anybody that's getting started and it's not ideas, but frankly it's for anybody that is doing anything.
I think in business or especially in marketing, you're constantly be testing out things seeing what works and what doesn't work.
And you want to create space and time to be some of the biggest brands, you hear they have their experimental, time ghouls, one of those where I think products like Gmail came out largely because people were experimenting and they had that 20%, 15, 20% time.
I think it was that they're experimenting, becomes part of that ethos files that hold and the thing that they're doing keeps them a big company.
But also kind of taps into that innovation and moving fast and breaking things because you have space and time to do that.
So I think that that's all pretty cool to be able to do and to leverage. And I think it's so important as CEOs, entrepreneurs and business owners that we are creating space and time to experiment.
But also creating space and time to make sure that we're reviewing those experimentations to see what's working and what's not.
But that's the big thing that's kind of coming up for me. Don't be afraid to experiment don't even be afraid to even track those experiments even more because you do want to be like the kid that's trying out new things.
You want to be like the scientist that's in the lab with the test tubes and the beakers and all those things and testing out those different concoctions or even the person that might be a chef and it's been together it would be a phenomenal recipe.
So that's it for today. Just don't be afraid to experiment. Don't be afraid to track those experimentations so that you can eventually get your way to the success that you want to have.
Outro 09:38
Please let me know if there's anything I can do to help. And of course, look forward to give you more and more updates.
Title: Transcript - Fri, 20 Dec 2024 11:28:08 GMT
Date: Fri, 20 Dec 2024 11:28:08 GMT, Duration: [00:09:46.32]
[00:00:00.96] - Gresham Harkless
Hello, hello, hello.
[00:00:01.99] - Intro
This is Rich from the IMCO podcast. This is a special episode of our.
[00:00:08.92] - Speaker 3
IMCO podcast and this is actually going.
[00:00:12.50] - Intro
To be a snippet of a snippet, so to speak. I'm just doing an intro because I've been starting to document my journey to starting what is now called Blue Star franchise. We're also going to do a kind of subsite within CB Nation called Franchise CEO.
[00:00:35.34] - Speaker 3
So you'll see some links in the.
[00:00:37.00] - Intro
Show, notes related to that. But just wanted to give you a little bit more insight, give you a little bit more covering some of the aspects of why I'm actually doing this. Because one of the things I was doing as I was going to try and start up this new business was, was realizing and hearing from the founder of fba, the Franchise Brokers association, that it'd be really cool to document your journey going through and building this out. I think it's something that would be super helpful obviously for people that are looking for and thinking about starting franchises. But frankly, if you're starting anything, any type of business, I think it's really cool to kind of just even see the journey and how it's been going from there.
[00:01:32.07] - Speaker 3
So I'm going to share a few.
[00:01:33.29] - Intro
Of those snippets from the, from the first couple of videos that have been created. But definitely, of course subscribe to our YouTube, check out a lot more where I figure out exactly where we're gonna post this. So I have that that's available to you. But regardless, if you're a builder, continue.
[00:02:04.37] - Speaker 3
To keep building, continue to do your thing. The world definitely needs exactly what you're trying to build and needs you to be your unique self.
[00:02:14.33] - Intro
So make sure to run your own.
[00:02:16.13] - Speaker 3
Race because nobody can run your race like you.
[00:02:19.96] - Intro
This is Grass signing out. I hope you have a phenomenal day.
[00:02:24.41] - Gresham Harkless
Hello, hello, hello. This is Crush and I think it's day 25 of the franchise Broker journey.
[00:02:33.62] - Speaker 4
I didn't really know what I wanted.
[00:02:35.94] - Gresham Harkless
To talk about today, but actually yesterday I went through and I started to look at all the experiments I was.
[00:02:45.86] - Speaker 4
Doing all the things and seeing like what results there were.
[00:02:51.59] - Gresham Harkless
So I think that's, you know, probably a two part thing that I really.
[00:02:58.12] - Speaker 4
Wanted to about camera home today was.
[00:03:01.90] - Gresham Harkless
Of course having that spirit of experimenting and doing things, trying things out is.
[00:03:10.44] - Speaker 4
Going to be insanely huge because you don't even know what, what Maddie knock all the time. I don't know what you're gonna even love doing. You don't know what's gonna necessarily feel in alignment. So one of the big things, that.
[00:03:29.46] - Gresham Harkless
Kind of camera for me is that I want to have that spirit of just trying things, of testing things out, of figuring out what works or what doesn't work. But one thing I don't always do a great job of is keeping track of what these experiments are, of closing.
[00:03:53.30] - Speaker 4
Experiments when they don't kind of bear.
[00:03:56.68] - Gresham Harkless
Those fruits and bringing those things out. So the idea is kind of like to do like an A B test, a rapid A B test. You have kind of two things you tested out, essentially, and then you continually kind of tweak those things until you.
[00:04:15.00] - Speaker 4
Get to ultimately where you want to.
[00:04:16.83] - Gresham Harkless
Be mines is a lot of times being an A, B, C, D, E, F, you can get the idea of like exactly how those sets are. So it becomes a lot harder to.
[00:04:32.50] - Speaker 4
Be able to kind of iterate between.
[00:04:35.39] - Gresham Harkless
Two or three, four, five, six different things. So you want to try to keep it to maybe two different things, maybe three different things that you're kind of testing out simultaneously. But I am notorious for trying out.
[00:04:52.36] - Speaker 4
Lots of different things, doing things against the wall.
[00:04:56.56] - Gresham Harkless
But that's not necessarily always bad, especially those two things.
[00:05:02.10] - Speaker 4
So three things or four things are.
[00:05:04.74] - Gresham Harkless
Not kind of competing or they're sometimes things that you just kind of sit in and see what's happening. But you want to kind of look at that data. I think that's the biggest thing that.
[00:05:20.13] - Speaker 4
I wanted to kind of hammer home.
[00:05:21.93] - Gresham Harkless
Today is that that data, especially if you're doing stuff from a digital standpoint, is going to be huge. So whether we're talking about impressions, clicks, you know, actually setting up time to speak or offers or whatever, the KPI that you're measuring is going to be huge to kind of track.
[00:05:48.70] - Speaker 4
But one of the reasons I bring.
[00:05:50.70] - Gresham Harkless
It up so much is that because if you're getting a lot of impressions, but people are clicking, maybe it's something around the copy or the offer or something along those lines that, not. That is not resonating if you have an ad that you're putting up. But on the flip side, if you are getting a lot of clicks but.
[00:06:17.73] - Speaker 4
People are converting, maybe something along the.
[00:06:21.68] - Gresham Harkless
Way of a landing page, or maybe it's too slow, or maybe it's not the right offer, or maybe people just don't have a good journey to that landing page. So whatever that might be, it gives.
[00:06:38.49] - Speaker 4
You a little bit more of a awareness around what's working and what's not.
[00:06:46.62] - Gresham Harkless
When you have the. That data that you can lean on, but you know, you Never know if it's even worthwhile. So sometimes when you do it and you, you set it out, it doesn't end up happening. And you end up saying that hey, this isn't necessary for me. So maybe that's how it goes.
[00:07:10.85] - Speaker 4
And, and you know, with sort of.
[00:07:13.39] - Gresham Harkless
Important to make sure that you are doing that. This is for anybody that's getting started and it's not ideas, but frankly it's for anybody that is doing anything. I think in business or especially in marketing, you're constantly be testing out things.
[00:07:31.74] - Speaker 4
Seeing what works and what doesn't work.
[00:07:34.31] - Gresham Harkless
And you want to create space and time to be some of the biggest brands, you hear they have their experimental.
[00:07:45.30] - Speaker 4
Time ghouls, one of those where I.
[00:07:49.31] - Gresham Harkless
Think products like Gmail came out largely because people were experimenting and they had that 20%, 15, 20% time, I think it was that they're experimenting, becomes part.
[00:08:02.54] - Speaker 4
Of that E files that hold and.
[00:08:04.79] - Gresham Harkless
The thing that they're doing keeps them.
[00:08:07.75] - Speaker 4
A big company, but also kind of.
[00:08:10.31] - Gresham Harkless
Taps into that innovation and you know, moving fast and breaking things because you have space and time to do that. So I think that that's, you know, all pretty cool to be able to do and to leverage. And I think it's so important as CEOs, entrepreneurs and business owners that we are creating space and time to experiment, but also creating space and time to.
[00:08:43.47] - Speaker 4
Make sure that we're reviewing those, those.
[00:08:47.00] - Gresham Harkless
Experimentations to see what's working and what's not. But that's the big thing that's kind of coming up for me. Don't be afraid to experiment.
[00:08:56.36] - Speaker 4
Don't even, don't.
[00:08:58.33] - Gresham Harkless
Don't be afraid to even track those experiments even more because you do want to be like the kid that's trying out new things. You want to be like the scientist that's in the lab with the test tubes and the beakers and all those things and testing out those different concoctions or even the person that might be a chef and it's been together it would be a phenomenal recipe. So that's it for today. Just don't be afraid to experiment. Don't be afraid to track those experimentations so that you can eventually get your.
[00:09:34.96] - Speaker 4
Get your way to the success that.
[00:09:36.76] - Gresham Harkless
You want to have.
[00:09:38.83] - Speaker 3
Please let me know if there's anything.
[00:09:40.89] - Gresham Harkless
I can do to help.
[00:09:42.29] - Speaker 4
And of course, look forward to give.
[00:09:44.19] - Gresham Harkless
You more and more updates.
Sign up to receive email updates
Enter your name and email address below and I'll send you periodic updates about the podcast.
[/restrict]
