This document outlines assumptions that a business would need to make in key areas such as customer needs, solutions, target customers, value propositions, marketing, business models, competition, product risks, and critical risks. The business is prompted to identify assumptions in each of these areas and prioritize them as having high, unknown, or low risk. It also provides guidance on running targeted experiments to test assumptions and gather feedback to confirm or iterate the business model.

1. Business Assumptions Exercise
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2. I believe that my customers have a need to
________________________________________.
keep it concise!
Customer-Needs Assumption

3. This need can be solved with ________________
_________________________________________.
Solution Assumption

4. My initial customers will be _________________
________________________________________.
describe the person(s)
Initial Customer Assumption

5. The #1 value a client wants to get out of my
service is: ________________________.
The client can also get these additional benefits:
___________________ and __________________.
Value Proposition Assumptions

6. I will acquire the majority of my users/customers
through _______________________ and
________________________.
Marketing Assumptions

7. I will make money by _______________________
_________________________________________.
Business Model Assumption

8. My primary competition will be ______________
and ______________.
We will beat them in the market due to
__________________ and __________________.
Competition Assumptions

9. My biggest product risk is ___________________.
We will solve this through ____________________
______________________________.
Product Risk Assumptions

10. What assumptions does my business hold, that if
proven wrong, could cause the business to fail?
1._______________________________________.
2._______________________________________.
3._______________________________________.
4._______________________________________.
5._______________________________________.
Critical Risk Assumptions

11. Appendix

12. Prioritize your assumptions
High Risk
Known Unknown
Low Risk

13. Running Experiments
1. have a hypothesis to test
2. brainstorm a few different tests, offline and
offline
3. try to break the tests into even smaller units
of work
4. choose a test and set a goal
5. run the test (try to hit the goal)
6. review results and make a decision (a. confirmed
belief; b. iterate test; c. iterate business)