Fact: We don’t know what we don’t know…
So, huge, HUGE opportunities to create breakthroughs slip through our fingers everyday. Opportunities to increase profits, increase market-share, gain customer loyalty, improve our products, open new markets, discover profitable new channels and many, many more.
All lost because we just plain don’t know what we don’t know.
I worked with a company that didn’t understand the simple power of A/B split testing headlines or ads against each other. When they heard the concept the executives thought it was a waste of time because they “knew” which concept was better. Finally they gave it a try. The month they conducted their first test they increased their sales 150%. This company happens to be one of the largest banks in the world. So, that simple test created tens-of-millions in extra revenue.
And that is just one small drop of know-how in a universe of possibilities for jolting your revenues upward.
What is the cure for not knowing what we don’t know about?
There are a number of possibilities: First, get curious. Look outside your industry. How are other people solving the same challenges you face? Read widely. If you don’t have time, do it anyway. Bring in outside specialists and have them rummage through your company. Your people won’t like being second guessed – but you’ll like the 50% increase in sales this year if they come up with a gap in your sales and marketing.
Oh, and there is one other solution. But it is hard. I actually fail at it on a daily basis. But, I really think it is the key to opening my mind (and yours) to the bountiful breakthrough opportunities out there.
We don’t know it all. So, why pretend we do? I believe that in my life I’m most in danger of missing or overlooking opportunity in the very area that I believe I’m the most knowledgeable. My pride blinds me to hearing that which doesn’t fit my “expert” framework.
Problem: We don’t know what we don’t know.
Solution: Curiosity and humility.