Experiments 101
This is an assumption tested through research and experimentation.
What is a hypothesis?
This fast and inexpensive method lets entrepreneurs get feedback directly from a target customer.
What is an interview?
This prototype type is quick, inexpensive, and may involve paper, cardboard, sketches, or storyboards.
What is low fidelity?
The first step in the entrepreneurial scientific method.
What is identify a question?
Instead of asking “Would you buy this?” entrepreneurs should generally ask this type of question.
What is an open-ended question?
Relying only on information that supports what you already believe is called this.
What is confirmation bias?
This process involves interacting with potential customers to gather evidence that a need exists and people may be willing to pay.
What is market validation?
A rough sketch or wireframe used before building a digital product is this type of test.
What is a paper test?
A detailed wireframe or 3D printed model would usually fall into this fidelity level.
What is medium fidelity?
The step after gathering background information.
What is develop a hypothesis?
The simple follow-up question entrepreneurs should repeatedly use to uncover deeper meaning
What is “Why?”
A tendency to make unfair judgments based on deeply ingrained assumptions is called this.
What is unconscious bias?
A good experiment should focus on one of these rather than trying to test everything at once.
What is a core hypothesis?
A clickable website feature that leads nowhere but measures customer interest is called this.
What is a Button to Nowhere?
A nearly realistic version of a product before full launch is this level.
What is high fidelity?
After testing a hypothesis, entrepreneurs do this before forming a conclusion.
What is analyze the results?
Feedback interviews often involve customers interacting with this so their reactions are based on something tangible.
What is a prototype?
Entrepreneurs should gather this rather than relying only on intuition.
What is evidence or data?
Experiments should establish this before they begin so results are not rationalized afterward.
What are success metrics or pass/fail metrics?
Taking orders for a product before it has been produced is called this.
What is preselling?
This three-letter term refers to a product designed to generate maximum validated learning with minimum effort.
What is MVP?
An experiment should be designed to prove or do this to a hypothesis.
What is disprove it?
Besides asking whether customers like something, feedback interviews should determine whether the product creates this for the user.
What is value?
According to the chapter, experimental results should still be considered even when they do this to the entrepreneur’s original hypothesis.
What is contradict it or fail to support it?
A good experiment should be structured, focused, believable, flexible, and this final characteristic that helps entrepreneurs learn quickly.
What is compact?
Watching someone complete a task using your website or product to identify problems is known as this.
What is task completion or usability testing?
This small-scale study is used to assess whether a product or service is feasible before broader launch.
What is a pilot experiment?
The chapter emphasizes that entrepreneurial experiments should be quick and inexpensive rather than trying to copy this environment.
What is a scientific laboratory?
Feedback interviews can also reveal whether the venture is targeting these people correctly.
Who are the customers or target market?
The chapter says every experiment, even a small one, should be viewed as an opportunity for this.
What is learning?