The Basics
This is a human institution designed to create new products and services under conditions of extreme uncertainty.
What is a startup?
These interviews are split into problem discovery and product validation, and should focus on the customer’s life, not your pitch.
What are customer development interviews?
This “minimum” version of a product is just enough so customers can experience value and give feedback in the real world.
What is a Minimum Viable Product (MVP)?
This three-word phrase describes the moment when a product satisfies strong demand from a clearly defined segment.
What is Product–Market Fit (PMF)?
This phrase describes your plan for how you’ll reach customers and sell the product, and is the focus of Class 8–9.
What is a Go-To-Market (GTM) strategy?
This approach combines lean manufacturing, design thinking, customer development, and agile development to create continuous innovation.
What is the Lean Startup?
In The Mom Test style you mention, during early interviews you should talk about this instead of your idea.
What is their life / their experience?
In Class 5 we talked about this style of coding where you quickly build something in a flowy, low-friction way, often with AI tools.
What is vibe coding?
This one-page visual tool captures value proposition, customer segments, key activities, and revenue streams, and is a core part of Class 3 and 4.
What is the (Lean) Business Model Canvas?
Total Addressable Market (TAM), Serviceable Available Market (SAM), and Serviceable Obtainable Market (SOM) are all ways to break down this key concept.
What is market size?
This three-step loop asks you to build something small, measure what happens, and then learn what to do next.
What is the Build–Measure–Learn loop?
This phrase describes the single assumption that, if wrong, makes everything else in the business irrelevant.
What is the riskiest assumption?
Name one tool from Class 5 that you can use to build a prototype: options include this design tool, this no-code web app builder, this AI-assisted tool, or even simple slides.
What is Figma, Bubble, Bolt, or PowerPoint? (any of those earns credit)
According to Class 3, the main purpose of a startup is to find this kind of business model that works today and can work in the future.
What is a sustainable business model?
In Class 4 you list several ways to test demand before building. Name one of these methods.
What is a landing page / survey / email campaign / crowdfunding campaign / pre-orders / explainer video / customer discovery interviews? (any one works)
In Lean Startup, founders test two key hypotheses: one about whether the product delivers value, and one about whether it can reach a bigger market. Together these are called the value and growth what?
What are the value and growth hypotheses?
This profile describes the type of customer who is a perfect fit for your product and should guide who you target first for interviews.
What is an Ideal Customer Profile (ICP)?
In your “From 0 to 1” slide, you say you can even create a fake one of these as long as it lets you run product validation interviews.
What is a (fake) prototype?
When talking about value vs price, you reference frameworks that break value into functional, emotional, and social types of these.
What are outcomes (functional, emotional, and social outcomes)?
Bob Iger said this.
What is your strategy is only as good as your ability to articulate it.
This agile framework, introduced alongside product development in Class 7, organizes work into sprints and uses roles like Product Owner and Scrum Master.
What is Scrum?
According to the syllabus, you must submit at least two of these artifacts (transcript + learnings) as an individual assignment.
What are customer development interviews?
In Class 3 you quote advice that sometimes, early on, you have to do these things when delivering your MVP to customers.
What are things that don’t scale?
In the course schedule, this topic comes right after “Business Models” and focuses on understanding numbers like revenue, costs, and cash flow.
What are Financials?
Get a few of these for the ultimate validation that you are ready to start selling this product.
What is an LOI?