Unit 5: Nail the Pain - Testing Your Hypotheses and Assumptions

Big Idea Course: Student Series

Introduction: Welcome to the Big Idea Accelerator

1. Welcome to the Big Idea Accelerator Program (5 min.)
What Does the Premium Course Provide? (3 min.)
2. Introduction to the Accelerator - Part I (3 min.)
3. Introduction to the Accelerator - Part II (4 min.)
4. Applying Concepts through Assignments (3 min.)
5. Certificate of Program Completion (2 min.)
6. Identifying a Startup Idea - Part I (3 min.)
7. Identifying a Startup Idea - Part II (5 min.)
8. Assignment: Identify a Startup Idea

Unit 1: Why Entrepreneurs are Failing

Unit 1: Why Entrepreneurs are Failing
1.1. David and His First Startup - SoccerStats.com (4 min.)
1.2. Greg and His First Startup - CrimeReports.com (4 min.)
1.3. Entrepreneurship and Failure (2 min.)
1.4. Paul Ahlstrom of Alta Ventures on Why Entrepreneurs are Failing (5 min.)
1.5. Paul Ahlstrom of Alta Ventures on Premature Scaling (2 min.)
1.6. Premature Scaling of a Startup (2 min.)
1.7. Trap 1: The Process Trap (3 min.)
1.8. Dr. Nathan Furr of INSEAD on the Process Trap (9 min.)
1.9. There.com and IMVU on the Process Trap - Part I (3 min.)
1.10. There.com and IMVU on the Process Trap - Part II (3 min.)
1.11. Perri Gorman of Archive.ly on Understanding the Market First (2 min.)
1.12. Trap 2: The Hero Trap (6 min.)
1.13. Neal and Jeff Harmon of Orabrush on the Hero Trap (2 min.)
1.14. Trap 3: The Money Trap (7 min.)
1.15. Charles Huang of RedOctane on the Money Trap (5 min.)
1.16. Jared Allgood of ClassTop on the Money Trap (2 min.)
1.17. Overcoming the Traps of Entrepreneurship (3 min.)
1.18. Revisiting Greg and CrimeReports.com (2 min.)
1.19. Assignment: What Comes After a Big Idea?
1.20. Assignment: Interview a Failed Entrepreneur

Unit 2: Innovation and Risk

Unit 2: Innovation and Risk
2.1. What is Innovation? (6 min.)
2.2. The Risks of Innovation (6 min.)
2.3. Anthony Soohoo of Dot & Bo on Addressing Market Risk First (1 min.)
2.4. Entrepreneurs Innovate and Customers Validate (4 min.)
2.5. The Technology Adoption Life Cycle (3 min.)
2.6. The Chasm between Early Adopters and Early Majority (3 min.)
2.7. Geoffrey Moore, author of Crossing the Chasm (33 min.)
2.8. Crossing the Chasm - Going Vertical v. Horizontal (3 min.)
2.9. Paul Ahlstrom of Alta Ventures on Crossing the Chasm (4 min.)
2.10. Charles Huang of RedOctane on the Risks of Innovation (10 min.)
2.11. The Great Black Hole of Innovation (3 min.)
2.12. The Nail It Then Scale It Method (4 min.)
2.13. Assignment: Invention + Market Insight = Innovation
2.14. Assignment: Teach Technology and Market Risk

Unit 3: The Entrepreneur's Laboratory

Unit 3: The Entrepreneur's Laboratory
3.1. You are a Research Scientist (3 min.)
3.2. Principle 1: Ensure Intellectually Honest Learning (5 min.)
3.3. Learning Trap 1: The Confirmation Trap (3 min.)
3.4. Learning Trap 2: The Motivation Trap (3 min.)
3.5. Learning Trap 3: The Overconfidence Trap (3 min.)
3.6. Overcoming the Learning Traps (4 min.)
3.7. Principle 2: Get Out of the Building and Into the Field (5 min.)
3.8. Steve Blank of E.piphany on Getting Out of the Building (2 min.)
3.9. Paul Ahlstrom of Alta Ventures on Building Products in Secret (7 min.)
3.10. There.com and IMVU Revisited (5 min.)
3.11. McKay Thomas of First Opinion on Operating in Stealth Mode (2 min.)
3.12. Principle 3: Fail Fast and Learn to Change (4 min.)
3.13. Petra and Failing Fast (2 min.)
3.14. PayPal and Learning to Change (2 min.)
3.15. Scott Case of Priceline on Failing Fast and Learning to Change (2 min.)
3.16. Principle 4: Conduct Rapid, Inexpensive, and Simple Experiments (3 min.)
3.17. McKay Thomas of First Opinion on Rapid Experimentation (3 min.)
3.18. Tom Wujec and the Marshmallow Challenge on Rapid Experimentation (7 min.)
3.19. Google Glass and Rapid Prototyping (8 min.)
3.20. Anthony Soohoo of Dot & Bo on Being a "Learning Company" (2 min.)
3.21. Assignment: Teach the Importance of Getting Out of the Building
3.22. Assignment: Teach the Importance of Rapid Prototyping

Unit 4: Nail the Pain - Identifying Your Hypotheses and Assumptions

Unit 4: Nail the Pain - Identifying Your Hypotheses and Assumptions
4.1. Nailing the Customer Pain (4 min.)
4.2. Vinod Khosla of Khosla Ventures on Nailing the Pain (1 min.)
4.3. Steps to Nail the Pain (3 min.)
4.4. Scott Cook of Intuit on Nailing the Pain (2 min.)
4.5. The Monetizable Pain (3 min.)
4.6. McKay Thomas of First Opinion on Monetizable Pain (2 min.)
4.7. Step 1: Write Down the Monetizable Pain Hypothesis (3 min.)
4.8. David Writes Down His Monetizable Pain Hypothesis (3 min.)
4.9. Assignment: Write Down Your Monetizable Pain Hypothesis
4.10. Step 2: Write Down Your Big Idea Hypothesis (4 min.)
4.11. Using the Big Idea Canvas to Write Your Big Idea Hypothesis (3 min.)
4.12. Collaborating on the Big Idea Canvas Using Mural (2 min.)
4.13. Examples of the Big Idea Hypothesis (2 min.)
4.14. David Writes Down His Big Idea Hypothesis (5 min.)
4.15. Assignment: Write Down Your Big Idea Hypothesis
4.16. Identifying Your Assumptions with the Business Model Canvas (3 min.)
4.17. David Completes His Business Model Canvas (3 min.)
4.18. Assignment: Complete Your Business Model Canvas

Unit 5: Nail the Pain - Testing Your Hypotheses and Assumptions

Unit 5: Nail the Pain - Testing Your Hypotheses and Assumptions
5.1. Reviewing the Steps to Nail the Pain (2 min.)
5.2. Step 3: Quick Test of the Monetizable Pain and Big Idea Hypothesis (2 min.)
5.3. Step 3A: Find a Sample of Customers (5 min.)
5.4. The Smoke Test (6 min.)
5.5. The Three Types of Customers (4 min.)
5.6. David Finds a Sample of Customers (3 min.)
5.7. Assignment: Find a Sample of Customers
5.8. Step 3B: Contact the Sample of Customers (6 min.)
5.9. Jared Allgood of Juxta Labs on Contacting Customers (2 min.)
5.10. What to Say in Customer Conversations? (3 min.)
5.11. Jared Allgood of Juxta Labs on What to Say in Customer Conversations (3 min.)
5.12. Motive Communications on Customer Conversations (2 min.)
5.13. David Contacts His Sample of Customers (4 min.)
5.14. Step 3C: Capture and Measure the Results (5 min.)
5.15. Jared Allgood of ClassTop on Capturing and Measuring the Results (3 min.)
5.16. Step 4: Quick Exploration of Market Dynamics (4 min.)
5.17. David Revises His Hypotheses and Assumptions (5 min.)
5.18. Jared Allgood of Juxta Labs on Nailing the Pain and Developing an Initial Solution (4 min.)
5.19. Assignment: Contact Your Sample of Customers and Capture the Results

Unit 6: Nail the Solution - The Minimum Feature Set and Virtual Prototype Test

Unit 6: Nail the Solution - The Minimum Feature Set and Virtual Prototype Test
6.1. Nailing the Solution to the Customer Pain (4 min.)
6.2. Steps to Nail the Solution (3 min.)
6.3. The Minimum Feature Set (5 min.)
6.4. Steve Sarner of Tagged on the Minimum Feature Set (1 min.)
6.5. Patrick Lee of Rotten Tomatoes on the Minimum Feature Set (1 min.)
6.6. The Minimum Feature Set Fallacy (5 min.)
6.7. McKay Thomas of First Opinion on the Minimum Feature Set and "Feature Creep" (3 min.)
6.8. Anthony Soohoo of Dot & Bo on Avoiding "Feature Creep" (1 min.)
6.9. Steve Sarner of Tagged on the Discipline to Avoid "Feature Creep" (2 min.)
6.10. Pre-Test: Develop a Minimum Feature Set (4 min.)
6.11. David Develops a Minimum Feature Set (2 min.)
6.12. Assignment: Develop Your Minimum Feature Set
6.13. Test 1: The Virtual Prototype Test (5 min.)
6.14. Step 1: Develop a Virtual Prototype (6 min.)
6.15. David Develops His Virtual Prototype (2 min.)
6.16. Assignment: Develop Your Virtual Prototype
6.17. Step 2: Test the Virtual Prototype with Customers (2 min.)
6.18. Motive Communications and the Virtual Prototype (5 min.)
6.19. David Tests His Virtual Prototype with Customers (2 min.)
6.20. Assignment: Test Your Virtual Prototype with Customers

Unit 7: Nail the Solution - The Prototype Test and Solution Test

Unit 7: Nail the Solution - The Prototype Test and Solution Test
7.1. Reviewing the Steps to Nail the Solution (3 min.)
7.2. Test 2: The Prototype Test (2 min.)
7.3. Patrick Lee of Rotten Tomatoes on Prototyping (2 min.)
7.4. Step 1: Develop an Actual Prototype (5 min.)
7.5. Mike Maples, Jr. of Floodgate on Prototype Testing at Chegg (3 min.)
7.6. David Develops an Actual Prototype (2 min.)
7.7. Assignment: Develop Your Prototype
7.8. Step 2: The Prototype Roadshow (4 min.)
7.9. On-site Meetings with Customers (5 min.)
7.10. Brian Whitmer of Instructure on the Prototype Roadshow (3 min.)
7.11. CrimeReports.com and the Prototype Roadshow (7 min.)
7.12. Refining the Minimum Feature Set (6 min.)
7.13. McKay Thomas of First Opinion on Prototyping and Refining the Minimum Feature Set (3 min.)
7.14. Brian Whitmer of Instructure on Prototyping and Refining the Minimum Feature Set (2 min.)
7.15. Step 3: Checking the Crucial Test of the Hypothesis (6 min.)
7.16. Jared Allgood of Juxta Labs on the Crucial Test of the Hypothesis (2 min.)
7.17. Motive Communications and the Prototype Roadshow (4 min.)
7.18. Test 3: The Solution Test (3 min.)
7.19. Step 1: Validate the Solution (2 min.)
7.20. Step 2: Adjust or Move On (3 min.)
7.21. Motive Communications and the Solution Test (6 min.)
7.22. David Tests His Actual Prototype with Customers (2 min.)
7.23. Scott Cook of Intuit on the Results of Testing (2 min.)
7.24. Assignment: Test Your Prototype with Customers

Unit 8: Nail the Go-to-Market Strategy and the Business Model

Unit 8: Nail the Go-to-Market Strategy and the Business Model
8.1. Nailing the Go-to-Market Strategy (5 min.)
8.2. Steps to Nail the Go-to-Market Strategy (4 min.)
8.3. During Test 1: Discover the Customer-Buying Process (5 min.)
8.4. The Apple iPod and the Customer-Buying Process (3 min.)
8.5. SuperMac and the Customer-Buying Process (7 min.)
8.6. During Test 2: Discover the Market Infrastructure (6 min.)
8.7. Intuit and the Market Infrastructure (8 min.)
8.8. During Test 3: Develop Pilot-Customer Relationships (5 min.)
8.9. Assignment: Research the Customer-Buying Process
8.10. Assignment: Research & Map the Market Infrastructure
8.11. Nailing the Business Model (5 min.)
8.12. Step 1: Validate the Remaining Sections of the Business Model Canvas (5 min.)
8.13. Webvan and the Financial Model (4 min.)
8.14. Step 2: Iteratively Launch the Business (4 min.)
8.15. Step 3: Monitor the Business with Continuous Data Flow (4 min.)
8.16. McKay Thomas of First Opinion on Continually Involving Customers (3 min.)
8.17. David Nails His Business Model and Scales His Business (3 min.)
8.18. Assignment: Validate the Financial Model
Course Conclusion: The Nail It Then Scale It Method in Summary (4 min.)

Additional Course Resources

Additional Program Resources
1. The Big Idea Canvas
2. The Business Model Canvas
3. Nail It Then Scale It Checklist
4. Nail It Then Scale It Interview Guide
5. Contact and Help Desk Information

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Unit 5: Nail the Pain - Testing Your Hypotheses and Assumptions

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