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How To Validate Your Business Idea By Testing A Hypothesis

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Re: How To Validate Your Business Idea By Testing A Hypothesis

#61
post #33

Earlier quoted context omitted.

That's not my experience; I now avoid asking hypotheticals because the results for me have been very unreliable. I'm certainly unreliable that way. There are a number of Kickstarters where I've said, "OMG I'd pay for that!" But if I come back to it a couple of days later, I'll never actually click on the signup button. I'm even worse with things like this in person. I don't like disappointing people, so I'll try hard…

>>That's not my experience; I now avoid asking hypotheticals because the results for me have been very unreliable. The point in this context is that, while it may still be unreliable, it would be more reliable than simply asking if they like your product. And it is the best you can do, since no one is going to actually pay for a product that doesn't exist yet.

People pay for products that don't exist all the time. That's what contract software development is all about, for example. Ditto vaporware, Kickstarter, and "coming soon" features of existing products.

And, as mentioned elsewhere, people can think they are about to pay for a nonexistent product. Once you have proven willingness, there are a variety of ways you can finesse the issue of not actually having a product.

Re: How To Validate Your Business Idea By Testing A Hypothesis

#62

Earlier quoted context omitted.

> This way of thinking is invaluable. Is it the way of thinking or the things you assumed the business already had that were invaluable? You assumed * The existence of a large enough steady stream of paying customers to quickly gather statistics on. "Steady" is especially atypical in many environments. * Enough runway that you can afford to tackle issues one-by-one (i.e. using a control) rather than scrambling and gu…

I assumed all those things in my hypothetical example application of the scientific method to a decision. I'm not really certain what you're getting at? The article linked above already goes into some detail as to how to use this to simply evaluate an idea. I was just expounding on another possible use just to show how invaluable this is. Heck you can even use it in relationships. You can tell if someone is lying. Yo…

That the assumptions you made are not necessarily feasible/possible/correct in a real world, startup scenario.
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