Experiments and testing are a key requirement in developing and launching the business ideas that will help you grow your business in today’s volatile business environment. When developing new products and services you need to be continually validating, invalidating, and producing evidence for your value proposition or business model idea. But what makes a good business test? How do you know if you are successful or not? In the latest post from Strategyzer, they have collected 10 essential tools to help you design, implement, and manage your portfolio of experiments.
The article goes through 10 techniques for testing ideas and business models by breaking down each area of the business model and value proposition canvases. This gives you a valuable insight into how you can implement the canvases in your business.
Over the next few years you will hear the term Agile mentioned more and more as it is a proven approach for quickly developing products and testing whether they will be viable or not before too much time and resource is wasted. One of the tests in the article shows you how to create a “minimum viable product” (MVP) and uses the “Build-Measure-Learn” feedback loop is at the heart of the lean startup process. In the “Build” stage you create early stage prototypes and MVPs. It is designed to test whether or idea or assumptions are valid or not.
To find out more click on the link below to read the article:
I have used the Business Model Canvas from the book “Business Model Generation” from the Strategyzer series in many of the companies I work with and have found it an invaluable tool. The canvases themselves can be downloaded from the Strategyzer site and together with its companion book “Value Proposition Design” are for me the foundations to identifying a value proposition and business model that will allow you to differentiate your business and stand apart from your competitors.
For more information on the Lean Startup Process go to: