Test Key Assumptions - Deepstash

Test Key Assumptions

How you test your assumptions will depend on the specifics of the assumptions. For example, check your cost projections by seeing how much vendors charge for supplies.

Perhaps the most important assumptions to test are cost targets and how enthusiastic key customers are for your product. Testing assumptions compliments the market-based research that you’ve already done. The combination of this data will position you to create a product that can succeed in the beachhead market.

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jessicadelgado

Medical sales representative

There’s nothing magic about being a successful entrepreneur. It’s a learned skill, and in Disciplined Entrepreneurship, the author details 24 steps to a successful startup.

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Test whether your assumptions are valid.

The best way to determine that their product is useful is to put it in front of the people most likely to use it. This can mean market testing, or it can mean asking people on your own team--ideally, those in roles it's designed for--to give it a go.

Treat your prototypes not as

Financial pain points

Customers need to feel secure, knowing that they are getting value for money with every purchase. 

Conduct extensive market research to position products suitably in the market. Products should be of good quality and justify their prices. Be transparent about the price of your produ...

What’s the best price to charge for your products or services?

What’s the best price to charge for your products or services?

 It depends on what your customers can afford, what they think they should pay, and what you think they’ll pay. The actual price is somewhere between these three variables.

Pricing is one of the most important decisions in business. It can make or break a company. And yet hardly anyone know...

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