HOW to validate your riskiest ASSUMPTION by a data-driven designed lean EXPERIMENT

How to #jumpstart your #dreamproject

This is the 4rd article in the “How to #jumpstart your #dreamproject” series.

The 1st one is available here

The 2st one is available here

The 3nd one here

GTool is here

ollowing the steps in the previous articles by now you should have the first draft of the 1Page Business Plan(that you can go back to here) cross-checked by your version of the SWOT analysis( that you can go back to here ) for your #dreamproject.

Your next step is identifying the RiSKiest ASSUMPTION in your 1Page Business Plan and designing a proper experiment to validate that but, backed by data not only your gut feelings(assumptions).

Let’s take for example a project I was working on back in 2016 called BiOFarmingManager{a SaaS application designed to aggregate publicly available data( Big Data-eg: Eurostats ) and helps farmers accelerate their knowledge about agroecology( in terms of strategies, know-how and certified practices ), by giving a step by step guidance on all the farming processes ( from initial investment to actual profit ) and also help them measure and manage their business}.

Now One of the KEY assumptions on my 1PageBusinessPlan was that Search Engine Optimization (SEO) was one of the most important channels of marketing, traction and organic growth if not the most important one.

http://bit.ly/tractionMARKETINGplan

The only problem was that to do Search Engine Optimization(SEO) properly I would have had to invest at least roughly 3K and use all kind of resources that would have taken also an amount of 3–4 months on hard work on just that.

http://bit.ly/tractionMARKETINGplan

So I NEEDED to be sure I want to do that because, otherwise I would waste a lot of time and resources without achieving anything!

So this became my riskiest assumption in the 1PageBP and to go about it the #leanstartup way I needed to come up with a lean experiment that will validate this KEY assumption at a fraction of the cost!(also keep in mind I was only starting with the product development part of the applications).

So I had to take a step back and reverse engineer it a bit …

So I needed to find out that I would get enough clicks and conversions if I was showing up in the first page of Google search engine on keywords like:

  • organic farming software,
  • organic farming application and best practices.

The experiment I came up to was why don’t I use a landing page to one of the applications and buy Google Ads with 100$ for 30 days and measure the results.

This would in turn validate there is enough demand for my products and I would be able to drive initial early adopters to my application and get some customer feedback and begin iterations of my applications and properly jumpstart that much needed build, measure, learn cycle.

One other KEY thing to note is that what I was doing with this experiment was making use of an already existing KEY traction channel in the #TractionDEVframework called Social and Display Ads(SDA) so practically I was validating both in the same time gaining leverage as I was going at it with twice the speed of learning as I was pushing further and I was validating my riskiest assumption about one channel in the framework(SEO) by running a lean experiment with another traction channel — Social and Display Ads(SDA).

The landing page I used was this one :

Now for the results:

I gained initial ~30 early adopters from this experiment that validated my initial KEY assumption that Search Engine Optimisation(SEO) is one of the most important traction channel for my #startup project and enabled me to leverage them into iterating my application solutions for organic farming into:

  1. #SoilAnalysisManager
  2. #FertilizerManager
  3. #IrrigationManager

PS. — If you have further questions about the Gtool

( #TractionDEVframework )

and how to use it properly leave a comment bellow with your project twitter pitch and an e-mail as I plan to begin a FREE consulting session in the next year to help me get feedback and consolidate furter this MVP.

PPS. Another thing to note is the #TractionDEVframework keeps you agile on thinking out of the box in terms of strategies and budgets but also enables co-founders, mentors, advisors and investors to search the right marketing strategy/traction channel/startup phase & establish transparent milestones in terms of deadlines, budgets and KPI to measure and strive for in the long run!

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PM | Growth MiNDSET & Productivity addict