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An initiative of
Prototype & MVPWorkshop 3, 7th September, CBRIN.
Values & Rules
Meet the IACT19 team
Pitch your progress
An initiative of
READY?
• STAGE ONE
Workshop 3, 7th September, CBRIN.
An initiative of
Start!Workshop 3, 7th September, CBRIN.
How are you going?
How are you going?How do you know?
What is a Hypothesis?
Oxford Dictionary
What is a Hypothesis?“A supposition or proposed explanation made on the basis of limited evidence as a starting point for further investigation.”
Oxford Dictionary
What is a Hypothesis?“A supposition or proposed explanation made on the basis of limited evidence as a starting point for further investigation.”
A hypothesis should make a testable prediction about the relationship between a cause and effect.
A business model is just a set of hypotheses…
…until you have evidence that it works.
How do we find evidence?
How do we find evidence?Test!
Build
TestLearn
Build
TestLearn
Data
Ideas ValueProposition
What should you test first?
What should you test first?“The Riskiest Assumption Test is used to address the biggest assumptions of a business model, market type, users, strategy, and measures of success.
In this way, startups can test their idea viability without having to develop the whole product and waste unnecessary time, energy, and money in the process.”
In other wordsWhat is the one critical thing that must succeed in order for your business to be viable?
Prototypes
Prototypes“A prototype is an initial model of an object built to test a design.”
Prototypes“A prototype is an initial model of an object built to test a design.”
A prototype should:
1. Aim to test the customer experience of a product without needing to deliver value
2. Be a vehicle for early feedback
3. Be an appropriate level of fidelity
For example
Your turn+ Use paper, pens, post-its or any other
available equipment to prototype your riskiest assumption.
Time to test!+ Step 1 – Find someone from a different
table to test your prototype
+ Step 2 – Watch and take notes
+ Step 3 – Refine & make changes
+ Step 4 – Repeat!
Rules of customer testing1. Ask the tester to think aloud
2. No speaking!
3. Take notes
4. You can only respond to feedback with ‘Thank you’
5. Test until you notice patterns…
Let’s test!1. Ask the tester to think aloud
2. No speaking!
3. Take notes
4. You can only respond to feedback with ‘Thank you’
5. Test until you notice patterns…
ShareWhich step did you find the hardest?
More prototyping tools & techniques
Marvelapp.comProto.ioinvisionapp.comWireframesVideos
3D printed modelsStoryboardingConcierge methodCardboardPaper!
Minimum Viable Product1. Ask the tester to think aloud
2. No speaking!
3. Take notes
4. You can only respond to feedback with ‘Thank you’
5. Test until you notice patterns…
Minimum Viable Product“The minimum viable product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.”
Example
Minimum Viable ProductWhat is ‘viable’ can depend on:
1. Customer
2. Resources
3. Partners
4. Channels…
Minimum Viable ProductWhat is ‘viable’ can depend on:
1. Customer
2. Resources
3. Partners
4. Channels…
Minimum Viable ProductGood candidates for replacement:
1. Decision making processes
2. Data requests e.g. forms
3. Match making
4. Things you plan to automate one day
ShareHow can you concierge your way to value?
Reflection
Mentor update+ If you were matched with a Primary Mentor, make sure you get in
touch with them ASAP.
+ If you wish to connect with Secondary Mentors, create your profile on the OK RDY platform ASAP.+ The more information you include in your profiles, the more mentors you’ll
likely match with (and the more appealing your profile will be to mentors!)+ Check back in the app frequently as more mentors will be added throughout
the program.
Challenge 06+ For this challenge, take this opportunity to update your Team Registration page
to reflect any changes to your team and idea, including:
+ Updating your team name and team description, if necessary.+ Adding any website or social media links.+ Completing the new team fields.
+ A unique link to your Team Registration page was sent to you upon registration of your team. If you cannot locate your link, or you need to remove teams members, email your request to [email protected]
+ You have until 5pm, 10th Sep to complete this Challenge to earn one point.
+ Note: After the Challenge has closed, this information will be used to publish team profiles on the IACT website to help drive more engagement to your ventures.
And… Challenge 07+ For this challenge, reflect on what you have learnt from Workshop 3 about
prototypes. Then:
1. Take a photo of your INITIAL prototype.2. Using your prototype, test your idea with potential customers. Take a photo of
ONE of these potential customers interacting with your prototype.3. Using what you’ve learnt, refine and improve your prototype, then keep testing!4. Take a photo of your IMPROVED prototype.5. In the IACT Community Facebook group (fb.com/groups/iact.community) share
the three photos + explain what feedback prompted you to make the improvements to your prototype.
+ You have until 5pm, 17th Sep to complete this Challenge to earn TWO points.
+ Note: You’ll have some more opportunities to test your prototype with members from the community at After Hours – Community Feedback on 17th Sep. So make sure you keep building, testing and learning!
An initiative of
See you at
Funding Avenues, 10th September, CBRIN
IACT After Hours
