STEP 20Identify Key Assumptions
WHAT IS STEP 20, IDENTIFY KEY ASSUMPTIONS?
Describe the main assumptions that underpin your plan for your startup so that you can test them before the market tests them for you.
WHY DO WE DO THIS STEP, AND WHY DO WE DO IT NOW?
While you have tested many key assumptions throughout the 24 Steps, now you have all the elements of the marketing analysis plan, so now it is time to survey the full landscape and identify those key assumptions that are crucial to the overall plan before you begin to make the heavy investments in product development and the supporting infrastructure.
Before you push into product development, be as efficient as you can by intelligently identifying your key assumptions.
PROCESS GUIDE
You have reached another important milestone in your journey in that you should now be confident that you know who your customer is; that you can create substantial and meaningful value for your customer; that your target end user will acquire your product; that there is an economic buyer who will pay you as a result of the end user acquiring the product; and that the resulting unit economics will make you profitable. Congratulations!
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