Chapter 3: Learn

Question 1

What is Important in a StartUp?

Answer 1

To learn what your customers really want

Question 2

What is Validated Learning?

Answer 2

Validated learning is having testable hypotheses about the world, designing experiments to test those hypotheses, and analyzing the data to evaluate your hypotheses. You have real, quantitative data to show what you learned.
You can’t base your “Learning” on assumptions.

Question 3

How could they at IMVU have learned much faster than they did?

Answer 3

Instead of using 6 months to build a product they thought people wanted. They could have made a Hypothesis about customers wanting their product and then they could build an MVP (Minimum-Viable-Product) and then gather data and observe what needed to be changed or improved.

They could for example build have built their IM product for only one IM platform and gotten the same results.

Question 4

What happens unfortunately when they launch their product at IMVU?

Answer 4

No one wants it

Question 5

What do they do at IMVU when they don’t know what is wrong with their product?

Answer 5

At IMVU they start asking customers to analyze and hear what is wrong with their product. After many interviews, they finally draw a conclusion.

Question 6

What does Eric think is a waste at IMVU

Answer 6

“Anything we had done during those months that did not contribute to our learning was a form of waste.”