50+ Lean Validation Experiments
50+ Lean Validation Experiments
50+ Lean Validation Experiments
VENTURISM
50+
Lean validation
experiments.
Rapid ways to test and prove your business ideas.
Introduction
Lean experimentation is a critical part of building
new businesses. It provides validated proof that
customers want your concept, that you can build it,
and that it’s profitable - all before you make heavy
invests in time, money or resources.
Experiment
design
Assumption
Mapping
Start a new
cycle
Run Assumption
experiments mapping
1. Discover risky assumptions of 2. Prioritise assumptions on the scales, 3. Choose the validation approach that
desirability, feasibility, and viability. crucial/non-crucial and known/unknown. best fits your venture (it’s in this deck).
Experiment
design
Experiment
Design
Start a new
cycle
Run Assumption
experiments mapping
C o s t
If you don’t have much initial evidence, your aim e d
e Viable
should be to get just enough proof to point you Sp
in the right direction. Quick and cheap is the
way to go.
Quantitative
Can I translate my findings
Qualitative to a larger group?
Why do people
make this choice?
Insights
Job to be done
Insights
Emotion
Overall opinion
Behaviour
Audiences
Scale
Market Can we scale
the concept?
Which target market
Commercial resonates best with
Solution Do people understand the concept?
the concept’s value
Problem Does the solution proposition and
proposed solve the commercial story?
Opportunity What valid problem problem?
is the concept trying
Is there a real
to solve?
opportunity for the
concept to be
successful?
Experiment
design
Run
Experiments
Start a new
cycle
Run Assumption
experiments mapping
Opportunity
Problem
Solution
RELIABILITY
Commercial
Market
Pro Tip Scale
Do not use the mom test!
Friends, family and fools will always be positively TYPE DATA TYPE
The sneaker first came about when people began Desirability Quantitative
wearing sports shoes as a fashion statement. Only Feasibility Qualitative
Viability
afterwards did Nike start designing them with that
Responsibility
purpose in mind. COST €0
Tech Developments
Similar to trendspotting, except you look for
new technologies that might have an impact on
RELEVANT ASPECT SPEED
your market. Opportunity
Problem
Solution
RELIABILITY
Pro Tip Commercial
Market
It’s easy to list emerging tech in a generic way, like
Scale
AI and VR and leave it at that. The true value is in
trying to predict how the technology might change
TYPE DATA TYPE
your market.
Desirability Quantitative
Feasibility Qualitative
Tools like Miro and Zoom have helped Bundl host
Viability
workshops remotely, making it easier to work with
Responsibility
international clients. COST €0
Stakeholder
Interviews
Interview individual stakeholders in your
ecosystem to better understand their needs RELEVANT ASPECT SPEED
Opportunity
Problem
Solution
Pro Tip RELIABILITY
Commercial
Ask them to document their thought process in a Market
Customer Journey Map:
Scale
- What did they do?
TYPE DATA TYPE
- How did they feel about it?
Desirability Quantitative
- What challenges did they face?
Feasibility Qualitative
- How did they solve those challenges?
Viability
Responsibility
COST < €500/user
Analyse / Ask what their actions imply about their
needs.
Digital Survey
Send a “one-to-many” questionnaire to a
potential target group in order to get feedback on
RELEVANT ASPECT SPEED
the problem, solution, or perceived value of a
Opportunity
product. Problem
Solution
RELIABILITY
Commercial
Market
Scale
Pro Tip
TYPE DATA TYPE
Keep things short, with a maximum of 10
questions. It should take no more than 5 minutes.
Desirability Quantitative
Feasibility Qualitative
• Aim for 80% quantitative feedback.
Viability
Responsibility
• Use 0-5 scoring and prioritisation questions. COST €500-5000
Digital Ad
Run a digital ad campaign teasing your solution,
or talking about the problem. Use Facebook or
RELEVANT ASPECT SPEED
Google and analyse if people are interested.
Opportunity
Problem
Solution
RELIABILITY
Commercial
Market
Pro Tip Scale
A venture by:
Boosted Blog Post
Write an opinion-piece blog post outlining a
problem / solution and boost it using a small
RELEVANT ASPECT SPEED
amount of money to see if people read and
Opportunity
respond to it. Problem
Solution
RELIABILITY
Commercial
Pro Tip Market
If your product were a blog post, what would it Scale
look like? That’s what you want to write.
Opportunity
Problem
Solution
RELIABILITY
Commercial
Market
Scale
Pro Tip
A pre-existing e-mail list with the right target TYPE DATA TYPE
audience, makes validation that much easier.
Desirability Quantitative
Simply ask them for feedback.
Feasibility Qualitative
Viability
Responsibility
Go as niche as possible with your e-mail targeting. COST €0-2500
Online Communities
Use target audience communities like Reddit to
share your product idea (in any form). Ask your
RELEVANT ASPECT SPEED
most niche audience for feedback.
Opportunity
Problem
Solution
RELIABILITY
Commercial
Market
Pro Tip
Scale
• Aim for qualitative feedback.
community members.
Desirability Quantitative
Feasibility Qualitative
• Can’t find a community for your niche?
Viability
Consider a “community-first” approach
Responsibility
and start your own! COST €0
Brochure
Physically hand out a flyer or brochure and
observe if people read it, toss it, scan the QR
RELEVANT ASPECT SPEED
code, etc.
Market
Problem
Solution
RELIABILITY
Commercial
Opportunity
Pro Tip Scale
Few people read flyers / brochures. Use design to
grab their attention, or package your sales pitch TYPE DATA TYPE
Opportunity
Problem
Solution
RELIABILITY
Commercial
Market
Pro Tip Scale
Trade fares and festivals are a great place for pop-
ups.
TYPE DATA TYPE
Desirability Quantitative
Use the pop-up store to validate your business Feasibility Qualitative
case, especially the average order value and unit Viability
Responsibility
economics associated with it. COST < €5000
Superhuman Engine
Use the Product-Market-Fit quantification engine
pioneered by Superhuman (Google it).
Desirability Quantitative
Pro Tip Feasibility Qualitative
Use digital signing software to smoothen the Viability
Responsibility
process. COST €0
Business Case
Build an in-depth financial projection to learn the
dynamics of your business e.g. unit economics.
RELEVANT ASPECT SPEED
Determine the Y1 startup cost, and the Y5+
Opportunity
revenue potential. Problem
Solution
RELIABILITY
Commercial
Market
Scale
Pro Tip
TYPE DATA TYPE
Identify the key levers in your business case, and
test their sensitivity by creating best- & worst-case Desirability Quantitative
Feasibility Qualitative
scenarios.
Viability
Responsibility
Look for exponential (non-linear) growth. COST €0
Visual Prototype
Use a visual, physical, non-functioning prototype
to gauge commercial interest in your (physical)
RELEVANT ASPECT SPEED
product. This is only for physical products.
Opportunity
Problem
Solution
RELIABILITY
Commercial
Market
Scale
Desirability Quantitative
Pro Tip Feasibility Qualitative
Technical prototyping is an iteration game. Don’t Viability
Responsibility
worry too much about perfecting it at this stage. COST €0-100k
Explainer Video
Create a video or animation explaining your value
proposition and test it with end-users. Gather
RELEVANT ASPECT SPEED
data on things like interest, content quality,
Opportunity
information retention and /or information Problem
reproduction. Solution
RELIABILITY
Commercial
Market
Scale
Desirability Quantitative
Pro Tip Feasibility Qualitative
Use referral incentives to increase your reach and Viability
Responsibility
accelerate the growth of your interest list. COST €500-5000
Pre-order
Give users the option to pre-order your
proposition at a discount, to gauge interest and
RELEVANT ASPECT SPEED
commercial potential.
Opportunity
Problem
Combines well with: Smoke Test. Solution
RELIABILITY
Commercial
Market
Scale
Desirability Quantitative
Pro Tip Feasibility Qualitative
As with the Upvote and Crowdfunding, this tactic Viability
Responsibility
requires a marketing investment. COST €5000
Concierge
A form of MVP where on the user's side things
seem automated, but behind the scenes they are
RELEVANT ASPECT SPEED
solved manually.
Opportunity
Problem
The main goal is to simulate the end-experience Solution
RELIABILITY
Commercial
for the user, and gather their feedback on it.
Market
Scale
Desirability Quantitative
Feasibility Qualitative
Pro Tip Viability
Responsibility
Calculate your cost & time savings up front. COST < €500
No-code MVP
Build a fully functional MVP using no-code tools.
To be clear, the MVP DOES run on code, but you
RELEVANT ASPECT SPEED
don't have to do any of the coding!
Opportunity
Problem
Solution
RELIABILITY
Commercial
Market
Scale
We’ve explained
everything in this
video.
WAT C H N O W
The Ghost CEO
Are you able to delegate your work in a way that
makes you the Owner on paper, but actually others
RELEVANT ASPECT SPEED
are making it happen?
Opportunity
Problem
If yes, it’s a huge indicator of having set up a Solution
RELIABILITY
successful business. Real money works without you. Commercial
Market
Scale
Pro Tip
TYPE DATA TYPE
• Mostly for brick & mortar businesses.
Desirability Quantitative
• Your automation setup has to work across Feasibility Qualitative
multiple cultural and environmental contexts – or Viability
Responsibility
easily adapt to fit each. COST < €100k
The Zombie Test
Startup-life is a race against the clock. Or rather, the
funding. Ask yourself:
RELEVANT ASPECT SPEED
Opportunity
Is my company default alive or default dead?
Problem
Solution
RELIABILITY
Meaning: can it survive on its current P&L, or will it Commercial
bankrupt without another round of funding? Market
Scale
Desirability Quantitative
Pro Tip Feasibility Qualitative
Combine the Zombie Test with other product- Viability
Responsibility
market-fit tests. It is not a standalone validation. COST €0
The Gut Check
A common response to the question “What is
product-market fit?” is: You’ll know it when you RELEVANT ASPECT SPEED
experience it.
Opportunity
Problem
Hence, do not discount your entrepreneurial gut Solution
RELIABILITY
Commercial
in evaluating PM-fit. Market
Scale
Desirability Quantitative
Pro Tip Feasibility Qualitative
If you’re unsure whether you have PM-fit, you Viability
Responsibility
probably don’t have it. COST €0
Painkiller or Vitamin
Another gut-check:
Does your solution actually solve a crucial pain, RELEVANT ASPECT SPEED
making it a need-to-have, or is it a non-essential Opportunity
vitamin, making it a nice-to-have.
Problem
Solution
RELIABILITY
Commercial
You want to create a painkiller. Market
Scale
Desirability Quantitative
Pro Tip Feasibility Qualitative
People occasionally buy vitamins, but they always Viability
Responsibility
buy painkillers. COST €0
Cohort Retention
Analysis
Measure the retention (%) of a new user cohort
RELEVANT ASPECT SPEED
over a prolonged period of time (e.g. 1+
Opportunity
month).
Problem
Solution
Retaining customers is cheaper, and more RELIABILITY
Commercial
worthwhile, than acquiring new ones. It is also Market
harder, unfortunately. Scale
Desirability Quantitative
Pro Tip Feasibility Qualitative
If possible, try benchmarking your NPS results Viability
Responsibility
against competitors. COST < €5000
Organic Growth Rate
An indicator of Product-Market fit sometimes
used for software businesses is: Does organic RELEVANT ASPECT SPEED
growth + traffic account for ≥50% of new users? Opportunity
Problem
Solution
RELIABILITY
Commercial
Market
Scale
Desirability Quantitative
Pro Tip Feasibility Qualitative
If the answer is no, map your offering’s growth and Viability
Responsibility
look for gaps / optimisations. COST €0
Customer Support
Go undercover in customer support for a few
days to discover customer needs and pain points RELEVANT ASPECT SPEED
first hand. Opportunity
Problem
Solution
RELIABILITY
Commercial
Market
Scale
Desirability Quantitative
Pro Tip Feasibility Qualitative
Do not overuse this tactic, as it can detract from Viability
Responsibility
the overall UX. COST €0
Buy A Feature
Give users a limited amount of mock-currency to
spend on a handful of features. This will enable RELEVANT ASPECT SPEED
you to discover their preferences and priorities. Opportunity
Problem
Solution
RELIABILITY
Commercial
Market
Scale
Market
Scale
Pro Tip
The map is not the territory. It’s never as simple as TYPE DATA TYPE
Desirability Quantitative
Pro Tip Feasibility Qualitative
Viability
Feature your app in the unofficial Airport App - the
Responsibility
app store for iOS apps that are in beta. COST €100-500
Wrap-Up
Validating your business ideas before
investing too much too soon will set
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