Companies that follow the hypothesis-driven approach to the assessment of business opportunities is called "lean startups." Businesses in these startups to translate their vision into falsifiable hypotheses business model, the testing of hypotheses through a series of "minimum viable products," each of which represents a smaller set functions / activities required for a rigorous proof of concept. Based on test feedback, entrepreneurs must decide whether to stick with their business model, "rod" by changing some elements of the model, or to refuse to start. This article describes the step-by- step how to follow a hypothesis-driven approach in the evaluation of business opportunities, explains how the approach reduces the cognitive biases that might otherwise contribute to bad decisions, and considers the conditions that are best suited to run lean methods. "Hide
by Thomas R. Eisenmann, Eric Rice, Sarah Dillard 23 pages. Publication Date: December 13, 2011. Prod. #: 812095-PDF-ENG
Related Case Solutions & Analyses:
Maumee Commercial Dining Products Inc.
Wal-Mart: Nonmarket Pressure and Reputation Risk (A)
PalmSource Inc.
Centennial Pharmaceutical Corporation
Mrs. Ebtissam Algosaibi: An Entrepreneur in the Kingdom of Saudi Arabia
eBay vs. Carl Icahn, 2014
Burberry Case assignment
CITY FURNITURE & MATTRESS
ALARM FORCE: THE LAUNCH OF ALARMFOG
ISS A/S THE VALUATION ANALYSIS
