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Have you ever heard of “Occam’s Razor”? It’s a fascinating principle. One that scientists use to figure out which hypnotists or theory is the best when there are many competing ones. Here’s what it says: “Among competing hypotheses, the one with the fewest assumptions should be selected.”
Suppose you’re a scientist and there’s something you don’t understand. You have 3 possible explanations for it but each explanation has equal evidence for it. How do you choose between explanations? Occam’s Razor tells you to choose the simplest explanation.
The principle itself is super simple, all it says is that: “Simpler is better.” Yet, it’s very powerful. Using Occam’s Razor has consistently led to scientific breakthroughs and entrepreneurs have a lot to learn from Occam’s Razor. Simple businesses, simple methods and simple systems just work better. When a business becomes full of complications, procedures and departments even if all those things are good things, you’re still going to end up with a slow, dumb bureaucracy. Growth stops, efficiency drops and profitability sinks.