We are excited about the popularity of Testing Business Ideas. One of the main reasons we wrote the book was to get beyond just a list of experiments. Simply running a bunch of experiments to see what happens will create an illusion of progress. This can actually hinder your efforts in de-risking the business idea. Matching an experiment to the type of risk in your business strategy is still difficult for teams to grasp at the very beginning, but with some help, you can pick it up in no time.
You will learn about templates and more by signing up for our masterclass on Testing Business Ideas here.
What are the principles of selecting an experiment?
Before jumping to an experiment, it is important to consider the key principles of rapid experimentation when testing a new business idea.
Discovery or Validation, what’s the difference?
Pulling inspiration from Steve Blank’s 4 Steps to the Epiphany, it is quite obvious that we framed the experiment library in a similar fashion. One of the biggest differences however is that instead of “customer discovery” and “customer validation” we decided to test the entire business model. Discovery experiments are often open ended and directional, whereas the Validation experiments have more of a true value exchange. Most teams start with discovery since the validation experiments cost more and take longer.
How do I get access to the experiment library cheat sheet?