001 - Experiment

001 - Experiment

A startup is an experiment designed to grow fast πŸš€

Lean Startup makes it clear you are testing a complete business model. So it's not just about building things features - it's about putting your product in the hands of people and measuring whether your business is viable.

That working software needs to interact with customers. So the data doesn’t relate to error or defect rate, but relates to whether the business model is viable.

The longer it takes to figure out whether to dump the idea, try something else or make a big or small change in your business model, the more cash you will spend doing it. Got a war chest of money to burn through πŸ”₯ - fantastic. But this is probably for you πŸ˜‘

Who is that person that signed up? How many sign ups do we need for success? Why do they want it? How many of them are there? Are they willing to pay for it?

There are many ways to do this, too much to go into right now.

But it's really as simple as this.

  1. Make a bet on how something will turn out
  2. Figure out what sort of data would help us answer this question
  3. Choose a method that works (landing page tests, wizard of oz tests, surveys, observational studies, the whole shebang)