Cosi102

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## Key Takeaway from Chapter 4 - Experiment

* Just Do It method doesn't work - ship it and see what happens
* Key element of LS: formulate a hypothesis, test it, update theory
* Overall goal: How to build a sustainable growing business around a vision
* When you test one hypothesis, you often can't help testing others
* The quantitive results of an experiment often accompanied by qualitative feedback
* See <a href="/content/topics/leanstartup_book/20_tls_case_summaries/">Case Studies from The Lean Startup</a>

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<h2 id="key-learning-from-chapter-4-hypotheses">Key Learning from Chapter 4: Hypotheses</h2>

<ul>
  <li>Also ‘assumptions’, but I like the term hypothesis better because it emphasizes that we don’t take a side as to whether it is true or not. We specifically want to generate evidence that will either prove or disprove it.</li>
  <li>Testable: You need to know how you would test it</li>
  <li>Explicit: You need to be able to state it succinctly (on a post-it note)</li>
</ul>

<h3 id="types-of-hypothesis">Types of Hypothesis</h3>

<p><em>The point is, don’t get too hung up on classifications. What is important is the idea of formulating testable hypotheses, running experiments, and updating your plans accordingly.</em></p>

<ul>
  <li>Customer: Who is the customer? Where would you find them?</li>
  <li>Problem: What is their pain? What is the ‘job’ they are ‘hiring’ a product to do?</li>
  <li>Solution: What kind of solution are they seeking? What features do they need? Will this solution actually address their problem?</li>
  <li>Pricing: Different tiers, prices, different customer segments</li>
  <li>Technology: What kind of computer, connectivity, sophsitication do they have</li>
  <li>Habits: “They do …”</li>
  <li>Growth Hypothesis: what ways will new customers discover the product? Why will they keep using it?</li>
  <li>Value Hypothesis: Assuming use, in what ways is the idea delivering value to the customer?</li>
</ul>

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<h3 id="examples-of-hypotheses">Examples of Hypotheses</h3>

<ul>
  <li><a href="/content/topics/leanstartup/hypothesis_types/">Examples of Hypotheses</a></li>
  <li><a href="/content/topics/leanstartup/tech_hypotheses/">Technology Hypotheses</a></li>
</ul>

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<h3 id="some-case-studies">Some case studies</h3>

<ul>
  <li><a href="/content/topics/projects/warmup_bodega20.md/">Bodega 2.0</a></li>
  <li><a href="/content/topics/projects/warmup_magic_travel.md/">Magic Travel Book Brief</a></li>
  <li><a href="/content/topics/projects/warmup_motorcycle_uber.md/">Motorcycle Uber Brief</a></li>
  <li><a href="/content/topics/projects/warmup_studentbuying.md/">Student Buying Club Brief</a></li>
</ul>