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Drawing statistical inferences from small numbers of test sites is much more difficult and represents the leading edge of the test-and-learn approach. Venture capitalists and angel investors discard countless business plans of companies with outlandish goals. Dream big and aim for the stars but keep one foot firmly based in reality. Check with your industry association to get a handle on realistic growth in your industry to set SMART goals. Finally, you need to set a time frame for action, data collection, and review. Metrics Every Business Owner Should Be Watching Weekly They conduct tests in the context of, for example, order management, or site selection, or website development, and the testing feeds into various subprocesses. At CKE Restaurants, which includes the Hardee’s and Carl’s Jr. quick-service restaurant chains, the process for new product introduction calls for rigorous testing at a certain stage. It starts with brainstorming, in which several cross-functional groups ...

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