The “Validation Plan” can help you reveal critical and testable
(= falsifiable) hypotheses your business model is based on, which are both uncertain and important for the success of the innovation endeavour. Translate only the most important und uncertain antilogs (= test focus) into testable hypotheses. This, however, is not an easy task, especially at the beginning of innovation projects. We usually start with high-level hypotheses that are hard to test. Over time, we are eventually able to nail them down to very specific but still relevant statements. The following structure may help you phrase your hypotheses: <future><threshold>
“We believe that payment by credit cards will be accepted by more than 50% of our customers.” Every hypothesis needs an experiment in order to be tested. An experiment defines a sequence of actions needed to collect data and measure the threshold: <action><measurement><timeframe>
“We integrate credit card payments into our check-out process for X customers and count usage within 3 weeks.”
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