Profile Description
When I make assumptions about my customer, I risk projecting my own personal needs on them.
How this helps you
As an entrepreneur, you need to follow your intuïtion. Use it to create assumptions, about what you think might happen. And then test it. Is your assumption correct? Great you can continue! If not you should adapt, make new assumptions and start over again. Untill you get it right.
What is it?
A hypothesis is a tentative statement about the relationship between two or more elements. For example, a hypothesis test may be set up in order to explain how much an increase in personnel might affect actual sales. The assumption is that each extra sales person will increase sales by the amount, that current sales personel is selling. So, if one person is selling ¢ 10.000, every next person will sell ¢ 10.000 aswell.
How does it relate?
Testing is an integral part the lean start-up method and is used to validate options. It is all about producing informed decisions. Testing hypothesis makes you think objectively about the outcome of the test and avoids the pitfall of framed outcomes based on personal preferences and intuition.
Your next Waypoint
Great tools for online hypothesis testing are Mixpanel, SiteSpect, but there are many more. More suggested reading:
smallbusiness.chron.com/hypothesis-testing-used-business
referenceforbusiness.com/hypothesis-testing
All Waypoints
