Friday, October 21, 2016

Just one Lean Experiment to progress to a Data driven Startup

When people use the Lean Canvas well, not only do they fill out the canvas, they generate hypotheses and then run tests around each of the hypotheses to see which are valid

That process includes something like:

  •  Make a hypothesis
  •  Craft a test of that hypothesis
  •  Have clarity on the success metrics
  •  Execute the test
  •  Report out on the results of the test
  •  Make a plan for the next cycle ( Perservere or Pivot) 

@adamberk put together the MilValChal to explore a process to engage more deeply in running customer development tests.

The goal is to help people make more effective progress towards doing a complete experiment cycle, with the belief that transparent experimentation will lead to value creation at a higher ROI than not.

We have been having a conversation about how to help people focus on the basics of doing explicit experiments. So very often people skim through the experiment effort jumping directly to the conclusions they already had in mind. In our discussion about how to move people forward, we discussed doing a single full experiment. We want to bring the MilValChal vision together. So we want to experiment with having people do one complete experiment. 

To bring people full circle through one complete experiment, @adamberk has $25K to help 25 companies make focused progress to complete a Lean Experiment. He will pay out $100 to as many people as fill out the first half of the Experiment Report Board (left side) within a week of this post being published and $900 to anyone (of those people who enter the funnel in the first week) who fills out the second half and writes a medium post sharing their learnings and next steps based specifically on those learnings.

To collect the $100, you must do the following

  • Accept the challenge publicly by going to and entering your email
  • Click to tweet
  • Tweet a copy of the left side of this canvas filled in CORRECTLY or make it to column 3 of this hypothesis board

For you to get this $1000, do the following:
Complete a single experiment cycle (it is harder than it sounds!)

In the SUBJECT of the email write = “My is, my Twitter is . A Lean Experiment:

In the BODY of the email write = “I believe that 15 submitted Interviews will prove that out of of <$Y> who are will take by November 1st, 2016.

You will have a significant number of experiments ahead of each of these key milestones:
  • Customer/Product fit
  • Product / Solution Fit
  • Customer / Solution / Value proposition Fit
  • Clarity on Existing alternatives
  • Clarity on where to find early adopters
  • Clarity on the Revenue/Expense fit
  • Clarity on the Sales Funnel Metrics mechanisms

If there is an experiment proving each of these milestones, the chances of your startup having a good foundation are greatly improved.

This pathway starts by doing one experiment. Will it help you to do a complete experiment to start with this $1000 challenge?