From the course: Becoming a Product Manager: A Complete Guide

Unlock the full course today

Join today to access over 22,600 courses taught by industry experts or purchase this course individually.

What's a minimum criterion for success?

What's a minimum criterion for success?

From the course: Becoming a Product Manager: A Complete Guide

Start my 1-month free trial

What's a minimum criterion for success?

“

- Hey guys, welcome back to the course. In this lecture, we're moving on to the next part of the process of running an MVP. Okay, so we know what a hypothesis is, and we know how to make one on our own, great. We now have our sights set on what exactly we're setting out to prove. But you may or may not have noticed this, but did we ever define what exactly proof, or define what exactly success in this experiment means? In one hypothesis we said, buy more. So, is that it if they buy more, we win? And the other said, x metric improves. There are three different outcomes to an MVP test you need to be aware of. One is, you find out that your hypothesis is categorically false and overwhelmingly not worth doing. Great, you dump it, it's not really a hard call. Two, you find out that within a wide margin, your hypothesis is true, no question about it. And three, you're somewhere in the middle. Now here's the rub. 90% of the…

Contents