Strategyzer – Master Business Testing
Why is business testing important? – Upgrade your mindset7 out of 10 business ideas fail because we build things nobody is interested in. In the process we waste huge amounts of money and time. Upgrade your mindset from executing business plans to de-risking business ideas.
What is business testing? – Learn the testing processMaybe you’ve heard of testing before but you don’t know where to start. In this chapter you learn the core concepts, steps and language you need to begin testing with your team.
What are the biggest risks to your idea? – Identify and prioritize hypothesesYou know your idea has potential but at the beginning it’s really just a set of guesses. Ask yourself, what needs to be true for your idea to work and capture these as testable hypotheses. By getting your hypothesis right, you will set yourself up for testing success.
Introduction (14 min)
- Welcome
- Learning Objectives
- Explore & Exploit
- Types of Innovation
- Why Business Ideas Fail
- Reduce Risk & Uncertainty
- High Risk or Low Risk?
Testing Components (25 min)
- The Big Picture
- Hypothesis
- Experiments
- Evidence
- Insights
- Evidence or Insights?
- Take Action
Module 2: Hypothesis
- Case Study: LifeTree Bank
- Extract Hypotheses
- Prioritize Hypotheses
- Practice: Prioritize Hypotheses
- Refine Hypotheses
- Practice: Refine Hypotheses
- Debrief: Refine Hypotheses
- Case Study: Owlet
- Practice: Extract Hypotheses
- Debrief: Extract Hypotheses
- Your Turn
Module 3: Experiments
Experiments (38 min)
- Test Card
- Choose Experiments
- Strength of Evidence
- Types of Experiments
- Design Good Experiments
- Choose the Right Metrics
- Set Success Criteria
- Mix of Experiments
- Practice: Desirability Experiments
- Debrief: Desirability Experiments
- Practice: Viability Experiments
- Debrief: Viability Experiments
- Your Turn
Module 4: Learning
Evidence (16 min)
- Learn from Experiments
- Collect Evidence
- True- or False?
- Synthesize Evidence
- Practice: Write an Observation
- Debrief: Write an Observation
- Your Turn
Insights (5 min)
- Generating Insights
- Practice: Learn from Evidence
- Debrief: Learn from Evidence
- Your Turn
Module 5: Take Action
Take Action (22 min)
- Four Types of Actions
- Take Action for Evidence that Supports Hypothesis
- Take Action for Evidence that Doesn’t Support Hypothesis
- Take Action for Unclear Insights
- Take Action for New Insights
- Quiz: Confidence Level
- Quiz: Take Action
- Practice: Pivot
- Debrief: Pivot
- Your Turn
Module 6: Manage
Manage (25 min)
- Measure Progress
- The Progress Board
- The Innovation Project Scorecard
- Progress in Practice
- Practice: Innovation Scorecard
- Debrief: Innovation Scorecard
- Your Turn
Module 7: Present
Present (28 min)
- Presentation Components
- Presentation Best Practices
- Presentation Template
- Owlet’s Presentation
- Your Turn
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