Cosi102

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### Logistics

* Quiz is next class... but that's a week away! 
* Quiz will be on the concepts we have covered so far
* Today is quiz prep.
* I recommend studying in study groups
* Questions will be definitional and scenario based reasoning
* We will have arrangements for accommodations
* This is a 40 minute quiz

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## Pre/Re-View Lean Startup Concepts

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<ul>
  <li>What different types of MVP can you think up?</li>
  <li>What might some MVPs be for our project?</li>
  <li>Which one would you create first? Why?</li>
</ul>

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<h3 id="what-is-a-concierge-mvp">What is a <strong>concierge MVP</strong>?</h3>

<ul>
  <li>Could you apply that idea to our  project? How?</li>
  <li>And would that have any benefits?</li>
  <li>Can you think of one for your product?</li>
</ul>

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<h3 id="what-is-the-role-of-hypotheses-within-the-lean-startup-model">What is the role of <strong>hypotheses</strong> within the lean startup model?</h3>

<ul>
  <li>What are some different kinds or examples of hypotheses that you can come up with for our project?</li>
  <li>How positive do you feel about whether our project would be successful?</li>
</ul>

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<h3 id="what-is-the-value-hypothesis-specifically">What is the <strong>Value Hypothesis</strong>, specifically?</h3>

<ul>
  <li>Why is it important?</li>
  <li>What are some possible value hypotheses for our project?</li>
  <li>How could you test them?</li>
</ul>

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<h3 id="what-is-a-growth-hypothesis-specifically">What is a <strong>Growth Hypothesis</strong>, specifically?</h3>

<ul>
  <li>Why is it important?</li>
  <li>What are some possible Growth hypotheses for our project?</li>
  <li>How could you test them?</li>
</ul>

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<h3 id="what-is-a-leap-of-faith-hypothesis">What is a <strong>leap of faith hypothesis?</strong></h3>

<ul>
  <li>Do all products have a leap of faith hypothesis?</li>
  <li>Does our project have a leap of faith hypothesis?</li>
</ul>

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<h3 id="what-are-some-of-the-ways-to-validate-hypotheses">What are some of the ways to <strong>validate hypotheses</strong>?</h3>

<ul>
  <li>What are some ways to validate them for our project?</li>
  <li>Why do you do that?</li>
  <li>What are some specific experiments?</li>
  <li>What happens if you don’t validate your hypothesis?</li>
</ul>

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<h3 id="what-does-ries-mean-by-getting-out-of-the-building">What does RIES mean by <strong>“getting out of the building?”</strong></h3>

<ul>
  <li>Why is this super important?</li>
  <li>For our project give some specific concepts for getting out of the building that you could implement.</li>
</ul>

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<h3 id="what-is-the-engine-of-growth">What is the <strong>engine of growth?</strong></h3>

<ul>
  <li>Can there be more than one engine of growth?</li>
  <li>Does it stay constant from the start?</li>
  <li>What are some ideas for our project’s engine(s)?</li>
</ul>

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<h3 id="why-would-products-with-high-network-effects-also-often-have-a-high-switching-cost">Why would products with high <strong>network effects</strong> also often have a high switching cost?</h3>

<ul>
  <li>What is a network effect?</li>
  <li>Would our project have high switching costs?</li>
  <li>Does it have a network effect working for it?</li>
  <li>Could you figure out way to give it high switching costs?</li>
</ul>

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<h3 id="its-not-whether-we-can-build-a-product-its-whether-we-should-build-the-product">It’s not whether we can build a product, it’s whether we SHOULD build the product.</h3>

<ul>
  <li>How can you avoid building a product nobody wants?</li>
  <li>How can you apply this to our project?</li>
</ul>

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<h3 id="competition-and-competitive-analysis-is-still-important"><strong>Competition</strong> and competitive analysis is still important</h3>

<ul>
  <li>Who would the competition be for our project?</li>
  <li>Does it have any?</li>
  <li>Is it a natural extension of something that already exists?</li>
  <li>Or do you think it’s a brand new niche that will grow on its own?</li>
</ul>

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### Scenario

I have been publishing a newsletter covering Gaming and the Unity Ecosystem in depth. I publish an article once a week. I charge $10.00 per month or $50 for a year. In the last three months I have collected the following metrics:

* July: 
    * 900 Subscribers
    * 50 new Subscribers
    * 40 non renewals
* August: 
    * 910 Subscribers
    * 100 new subscrivers
    * 90 non renewals
* September: 
    * 920 Subscribers
    * 90 new subscribers
    * 80 non renewals

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### Questions all about the above scenario

* Work on this interactively with your neighbor. Learn from, each other!

1. In this example, What is the churn rate for July?
2. Continuing the same example, What engine of growth am I using?
3. Which of those metrics are vanity and which ones are actionable?
4. Suggest two actions that you can take to improve your growth. Briefly explain why those two and what they would be.
5. Propose 2 hypotheses for the following problem: "I want to increase the number of subscribers to my newsletter"
6. What is the MVP that you would use to test your hypothesis?
7. What is the metric that you would use to measure the success of your MVP?

### Review the answers

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<h2 class="shadow p-3 bg-white rounded">Thank you. Questions?<img class="img-fluid w-100" src="https://picsum.photos/800/100.jpg" /> <small> (random Image from picsum.photos)</small></h2>