Business Model Generation:Testing Your Model

Business Model Generation Meetup

Cambridge, MAJanuary 23, 2013

@bennettsikes@bitfaker

@briangladstein

let’s review

in 2 minutes http://businessmodelgeneration.com/canvas

Now what?

why test?

the anatomy of a business model test

1. identify:risksuncertaintiesunknowns

2. select

one thing at

a time

3. state what you want to

learn

Is this an identifiable customer segment?

4. frame your hypotheses

We believe that collectors can be identified at

conventions for the things they collect

5. design

an experimen

t

Thinks about legacy

Doesn’t think about

legacy

6. runthe experiment

7. measurethe results

a good market test is a form of a “minimum viable

product”(but it’s not a traditional

product)

these MVPs are legen…

…dary

your turn1. 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