I believe that entrepreneurs should approach their business ideas just the way scientists approach their inductive theories.
First, they come up with a business idea based on careful observation of the market and existing products and services. Just like the way scientists come up with some hypothesis to form a theory.
Then they try to make logical predictions based on that idea. Just like the way scientists derive assumptions as logical consequences of their hypothesis.
After that, they try to test their best predictions in the market with their target audience. Just like the way scientists carrying out deductive research experiments or empirical observations based on their assumptions.
And finally, they make a conclusion based on the test results to see if they have a product-market fit. Just like the way scientists confirm or invalidate their theory based on carefully controlled experimental data.
Depending on how well additional tests match the predictions/assumptions, the original idea/hypothesis may require refinement, alteration, expansion, or even rejection.
Rest in the comment…