Cosi 165a - IT Entrepreneurship

Hypotheses/Assumptions (Wed Sep 10, lecture 3)

Homework due for today

  1. Lean Startup Chapter 4 and 5. Prepare for a discussion in class!
  2. Read: Build Measure learn vs. Learn Measure Build

Discussion

  • Loose ends
    • Teams of Five (or 4)
      1. Akhand, Farber, Stein, Oshin, Spiro
      2. Bardasu, Hultman, Kahn, Shapiro, Malyshev
      3. Calloway, Hu, Moore, Tesfagaber
      4. Courchaine, Kerxhalli-Kleinfield, Soboff, Leifang
      5. Yoshida, Roseman, Sezer, Sichel, Schmeling
      6. Averbook, Iknaian, Andalib, Leviton, Wan
    • Please move position to sit together!
    • Homeworks
      • Due on day of class
      • Handful have not handed in yet.
      • Need to talk to TA for extension
      • How do you like posting answers to a forum in Latte vs. an individual item?
    • TA’s
      • Introduce yourselves
      • Contact them as first line of defense
    • What makes a good “post” homework submission?
      • 3-4 paragraphs is enough
      • bring new insights or references or examples or counter examples
    • Term Project
      • College app article is a good source of product ideas for term project
    • P2P Tours:
      • Consider the possibility of just making a “match making” service or a “marketplace”
      • Pivots from basic vision are perfectly fine!
  • Discussion: Lets talk through Chapter 4 and 5 of Lean Startup: Each group discuss the chapters and what you think the big learnings and ideas are from those chapters.
Four Questions Every Entrepreneur Should Ask
  1. Do consumers recognize that they have the problem you are trying to solve?
  2. If there was a solution, would they buy it?
  3. Would they buy it from us?
  4. Can we build a solution for that problem?

The tendency of all computer science, IT, entrepreneurs, everywhere, always is to start with question 4.

Hypotheses

The Lean Startup notion of hypotheses
  • Also ‘assumptions’, but I like the term hypothesis better because it emphasizes that we don’t take a side as to whether it is true or not. We specifically want to generate evidence that will either prove or disprove it.
  • Testable: You need to know how you would test it
  • Explicit: You need to be able to state it succinctly (on a post-it note)
Types of Hypothesis - there are lots
  • Customer: Who is the customer? Where would you find them?
  • Problem: What is their pain? What is the ‘job’ they are ‘hiring’ a product to do?
  • Solution: What kind of solution are they seeking? What features do they need? Will this solution actually address their problem?
  • Growth Hypothesis - Use will grow over time.

  • Value Hypothesis - Like Solution Hypothesis

  • The point is, don’t get too hung up on classifications

  • What is important is the idea of formulating testable hypotheses, running experiments, and updating your plans accordingly.

  • Reference: “Why do research when you can fail fast and pivot?”

Pilot Project

Term Project

Next Class

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