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Waste of Money?

Name: Waste of Money?
Uploaded: 2024-08-26T14:00:48+00:00
Duration: 34 s
Channel: Shanli Liu, CPA, CTP
Description: In this monologue, Shanli Liu recounts how, while running Gym Launch, she allocated $50,000 every two weeks to an R&D team to test a single element aimed…

26 Aug 2024 · 1 min

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In this monologue, Shanli Liu recounts how, while running Gym Launch, she allocated $50,000 every two weeks to an R&D team to test a single element aimed at helping gyms. About half of these experiments failed to outperform the existing baseline (the control). Rather than withholding the results, she chose to transparently share the failed tests with the broader community. This openness resonated with listeners, who expressed relief and gratitude for learning from experiments they didn’t have to conduct themselves, highlighting the strategic value of publishing negative findings in a fast‑moving business environment.

Chapters

When I was running Gym Launch, I had an R&D team. And so what they would do is every 2 weeks they'd run a $50,000 test. I give them $50 grand and say, run a test on one element that's going to help gyms. And then here's what's crazy is that half the time it didn't beat the control. It didn't beat what we were already doing. And so they thought, and this is an early conversation, they're like, I guess we're not going to have anything to announce this week. And I was like, what are you talking about? I was like, you did 2 weeks of work and $50 grand. I was like, we're just going to tell them the exact thing that we did and just tell them it didn't work. And you know what? When we had attendance for this call, the amount of people were like, oh my God, I was thinking about doing something like that. I'm so glad you did it so I don't have to. That's value.