Scientific Method
What is the first step of the scientific method?
Observe and ask questions
What was the example used in class?
That women smile more than men
What is the goal of Lean Startup?
To create products quickly by testing ideas
What does MVP mean?
Minimum Viable Product
What is an “Explainer Video”?
A video explaining a product
What do you do after investigating?
Formulate a hypothesis
What was done to investigate?
Research in articles and in real life
What are the 3 key concepts?
Build, Measure, Learn
What is an MVP used for?
Testing ideas with customers
Example of an Explainer Video?
Dropbox
What does “testing the hypothesis” mean?
Conduct experiments
How was the hypothesis tested?
By interviewing many women (e.g., 300)
What does “validated learning” mean?
Learning with real customer data
Mention one benefit of an MVP
Lower risk / fast feedback
What is a Landing Page?
Page to capture interest
What do you do after testing the hypothesis?
Draw conclusions
What should a good experiment have?
Precise and measurable results
What is an MVP?
Simplified version of a product
Example of an MVP: a company that started by selling only books
Amazon
What is a Concierge MVP?
Manual service to test the idea
Last step of the scientific method?
Share results
What is done with the results at the end?
Share them with the community
Why is this methodology useful?
It saves time and money.
Example of an MVP with cars in San Francisco
Uber
Example of an MVP with product photos before selling them
Zappos