This session of CAKE dove into the world of testing. We primarily focus on using the scientific method when it comes to our business decision making. It may sound a little nerdy, but testing out your ideas will save you a lot of time and money by not chasing things that aren’t important.
There are many times we think the addition of a product or feature will send the customers flying in our direction. When that notion happens, take a moment and test out your idea before further developing it.
Follow these steps when it you want to test out an idea:
1. Begin by developing your question / hypothesis. Just make sure that it’s falsifiable before you move on.
2. Design the basic structure of your test. What variable are you testing? What are your control and experimental groups?
3. Write out your planned responses to the results of the test.
4. Run the experiment! Make sure you have a large enough sample size to increase the accuracy of your test.
5. Examine your data. The results should be glaringly obvious. If not, don’t be afraid to seek out more information.
6. Take action on the results of your test. Try not to rationalize the results if they don’t align with your hypothesis. Run with it and measure later on if you want to.
If you would like a deeper understanding of testing our your business ideas, we highly recommend the book, “The Lean Startup” by Eric Ries. This book is full of examples of a quick to test process called, “Build. Measure. Learn.”
It’s ok to make small failures in business, just as long as you fail fast and learn from your mistakes.
Without further ado, we present this week’s videos:
04.11.2012 CAKE Week 15 – Testing Methods Lecture
04.11.2012 CAKE Week 15 – Testing Methods Workshop
For now, you can download an .mp3 of this lecture:
(Right-Click as Select “Save Link As”)
In other news…
We had a blast playing Blurble after this week’s workshop at the East Bank Saloon in Portland, OR. You would never imagine a game that seems so simple on the surface, be so challenging… and FUN! Not only will you have a great time playing it, but you might also develop a stutter. LOL
If you want to pick up the game of Blurble, make sure you get your pledges into Kickstarter before May 5th. They just reach $10,000 in funding and only have $5,000 to go! A simple $18 pledge will get you a complete deck of Blurble cards. So what are you waiting for already, pledge now!
Recap provided by Derek Wyatt.