Entrepreneurship Research Guide : Testing
This guide is a collaborative effort between the Wisconsin School of Business and the Business Library.
One: Assess problem-solution fit quickly, cheaply if possible
How do you know customers value your solution to the perceived problem?
- Construct hypotheses to test important beliefs about customers’ needs.
- What makes people try your product or service?
- Who will be the first paying customer?
Two: Sharpening the ability to design good experiments
- Define the objective – what you want to learn – from your experiment
- Describe the data to be collected and how it will be acquired
- Secure permission from people you approach
- Use a sample of people that are a good proxy for your intended customer profile
- Include a control group for comparison
- Larger samples and repeated experiments provide more insights