Entrepreneurs need to test their assumptions if they’re to build a valuable, enduring business. What assumptions did you have when you started your business and how have they changed as your business grows?
Entrepreneurs need to test their assumptions if they’re to build a valuable, enduring business. What assumptions did you have when you started your business and how have they changed as your business grows?
at the beginning, almost everything is an assumption. so much so that when we prepare companies (i work for a VC backed startup accelerator) we get them to do a financial model, and in that model is a sheet call the ‘assumptions sheet’ - every row in that sheet represents a variable in the machine of the business that needs to be verified and proven to be accurate. all initiatives and experiments are focused on validating each row of those assumptions to ensure that the projections of the business become true, or are adjusted based on evidence.
This is great. Startups are experimentation machines and your process to validate assumptions is great.