Testing Your Business Model
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Testing Your Business Model

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The Business Model Canvas is a simple, living document that lets you capture all the important aspects of a business model on a single sheet of paper. But once you've created it, then what? ...

The Business Model Canvas is a simple, living document that lets you capture all the important aspects of a business model on a single sheet of paper. But once you've created it, then what?

You have to test your model. Use the business model canvas as a starting point for getting out into the real world and validating, verifying, confirming, or refuting the assumptions that went into building your model. Bit by bit, you build confidence in the model and reduce the risks inherent in your developing business.

This presentation walks through the basics of identifying what parts of your model to test and how to think about constructing simple experiments against your canvas. This was given at the January 22, 2013 meeting of the Business Model Generation Meetup in Cambridge, MA. Please let us know what you think!

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  • 1. Business Model Generation:Testing Your Model Business Model Generation Meetup Cambridge, MA January 23, 2013 @bennettsikes @bitfaker @briangladstein
  • 2. let’s review
  • 3. in 2 minutes  http://businessmodelgeneration.com/canvas
  • 4. Now what?
  • 5. why test?
  • 6. the anatomyof a businessmodel test
  • 7. risks1. identify: uncertainties unknowns
  • 8. 2. selectone thingat a time
  • 9. 3. state what you want to learn Is this an identifiable customer segment?
  • 10. 4. frame your hypotheses
  • 11. Thinks Doesn’t think 5. design about about legacylegacy an experiment
  • 12. 6. run the experiment
  • 13. 7. measuretheresults
  • 14. a good market test is a form of a “minimum viable product”(but it’s not a traditional product)
  • 15. these MVPs are legen… …dary
  • 16. your turn 1. identify risks, uncertainties, and rewards 2. select one thing at a time 3. state what you want to learn 4. frame your hypothesis 5. design an experiment 6. run the experiment 7. measure your results