Business builder

Evaluating assumptions

How to validate and test your assumptions.

You’ll learn about:

  • Why validating your business model is important
  • Lean start-up methodology
  • Testing assumptions
  • What's a Minimum Viable Product (MVP)?

Why test your business model

Working with limited time, money and resources is common when building a business but testing and validating your assumptions will help you to make the most of what you have and refine things as you go.

Watch this video to learn how to apply 'lean principles' as part of testing and validation. You'll also hear from several entrepreneurs about the assumptions they made when starting their businesses.

Testing assumptions

You now have a list of assumptions that you've made about your business, customers and distribution channels. Watch our next video to see how to use this in the build, measure, learn feedback loop to begin testing these assumptions.

What is an MVP?

In our final video, we’re going to look at a Minimum Viable Product (MVP) to understand how you can use simple experiments to test some of the business assumptions you've made and gain valuable customer insights. You’ll also hear from entrepreneurs about their experiences and what their initial MVP or proof of concept looked like and how it informed their business.

Ask big questions

It’s time to think about what works (and maybe what doesn’t) in your current business model. We’ll show you how constant questioning could keep you at the top of your game.

Disclaimer - © Strategyzer AG The makers of Business Model Generation and Strategyzer. The original work can be found here https://www.strategyzer.com/canvas/business-model-canvas This work is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported License. To view a copy of this license, visit: http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 171 Second Street, Suite 300, San Francisco, California, 94105, USA.

This material is published by NatWest Group plc (“NatWest Group”), for information purposes only and should not be regarded as providing any specific advice. Recipients should make their own independent evaluation of this information and no action should be taken, solely relying on it. This material should not be reproduced or disclosed without our consent. It is not intended for distribution in any jurisdiction in which this would be prohibited. Whilst this information is believed to be reliable, it has not been independently verified by NatWest Group and NatWest Group makes no representation or warranty (express or implied) of any kind, as regards the accuracy or completeness of this information, nor does it accept any responsibility or liability for any loss or damage arising in any way from any use made of or reliance placed on, this information. Unless otherwise stated, any views, forecasts, or estimates are solely those of NatWest Group, as of this date and are subject to change without notice. Copyright © NatWest Group. All rights reserved.

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