Step 21: Test Key Assumptions

Outline Overview Time to Test Workshop September 18, 2018

Design empirical tests to validate / refuse assumptions Overview This step: Design empirical tests to validate / refuse assumptions Do tests quickly and efficiently Goal: Gather empirical data that will support or disprove your assumptions September 18, 2018

Outline Overview Time to Test Workshop September 18, 2018

Time to Test Often not hard to test assumptions, e.g., Costs? => send RFQ to vendors Behaviors? => survey customers Purchasing => survey customers … RFQ: request for quote September 18, 2018

Test interest of lighthouse or linchpin customers. See if any will: Time to Test Test interest of lighthouse or linchpin customers. See if any will: Prepay for your product Put down a deposit Provide letter of intent Agree to pilot Express strong interest to purchase Also test with other customers.. September 18, 2018

NOTE: there are entire disciplines related to this Time to Test NOTE: there are entire disciplines related to this Behavioral economics – why people make decisions, how to design experiments Try to keep your experiments simple! Only test one variable at a time!! September 18, 2018

Outline Overview Time to Test Workshop September 18, 2018

Based on previous step: identify key assumptions Workshop Based on previous step: identify key assumptions NOW: design experiments to test them Test a single variable. Try to control other factors Worksheet #1: Experimental design Assumptions tested Resources needed Outcomes to validate September 18, 2018

Based on previous step: identify key assumptions Workshop Based on previous step: identify key assumptions NOW: design experiments to test them Test a single variable. Try to control other factors Worksheet #2: Experimental results Take notes about each experiment Remember: tests can be very simple!! September 18, 2018