July 06, 2011

Objective is a statement that is completely unbiased. It is not touched by the speaker’s previous experiences or tastes. It is verifiable by looking up facts or performing mathematical calculations.

Subjective  is a statement that has been colored by the character of the speaker or writer. It often has a basis in reality, but reflects the perspective through with the speaker views reality. It cannot be verified using concrete facts and figures.

Objective: it is important to be objective when you are making any kind of a rational decision. It might involve purchasing something or deciding which job offer to take. You should also be objective when you are reading, especially news sources. Being objective when you are meeting and having discussions with new people helps you to keep your concentration focused on your goal, rather than on any emotions your meeting might trigger.

Subjective: can be used when nothing tangible is at stake. When you are watching a movie or reading a book for pleasure, being subjective and getting caught up in the world of the characters makes your experience more enjoyable. If you are discussing any type of art, you have to keep in mind that everyone’s opinions on a particular piece are subjective.

As entrepreneurs we should think of ourselves as TESTERS. We test assumptions of what works and what will not work. We test ideas for products and services and we test business models and concepts of how to improve something in the marketplace. Our goal as entrepreneurs is to find the shortest and quickest possible route to a profitable business. To do these things we can’t simply rely on our own subjective opinion or the subjective opinion of those around us. Everyone’s family and friends will tell them that your business idea is a great one and that it is something that can make a lot of money, yet far too often these people are the first to go out of business before they have even faced any real challenges.

Opinions are a dime a dozen. People’s opinions are the one thing that most people would happily give you for free, especially when they’re not qualified to give advice on the subject. It’s dangerous to follow these opinions, because they aren’t backed up by any facts or proof.

Most of our business ideas start with us thinking of a new product or service and having a gut feel that it’s something that other people would want as well. This nothing wrong with this, but once you’ve got this first idea, your entire goal should be to find the evidence that’s it a good idea or not to prove you are right or wrong.

You should be trying to construct a proof of concept or a prototype which you can test in the real world to see if it is going to deliver the results that you thought it would. Often what seemed a great idea in your head fails miserably when brought into the real world.