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TESTING CRITICAL ASSUMPTIONS

As we kick off the incubation stage, keep in mind three important points. First, what you have right now is a Box 3 idea with a zero-dollar value. At this stage, your Box 3 idea is simply a thought experiment. Since no value has been created, it is worth zero dollars. In fact, considering the labor cost of your team to brainstorm the idea, the value may even be negative. You will travel the road ahead one step at a time to create value as you demonstrate that your idea’s value proposition is desirable, feasible, and monetizable. The day you land your first paying customer is truly when the value creation speeds up and when the idea is worth something meaningful. Strive to reach this milestone quickly and cheaply. ...

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