Dear course participants,
Welcome to week 5 of Designing Business Models for the Digital Economy.
Last week, you challenged your business model based on opportunities and threats, and applied changes to it by getting inspiration from patterns of other digital companies. This week, in the Test & Verify iteration type, we will focus on testing the most critical assumptions with the Minimum Viable Product (MVP). The MVP is a cost-efficient and early prototype of the actual product, tailored to answer the assumption at hand.
You will learn how to set up a “build – measure – learn” test cycle consisting of critical assumptions, the respective MVPs to test these assumptions, actionable metrics to achieve high quality test results, and the learnings you want to derive from the tests.
You will also learn what a pivot is. The term refers to the major change to your business model resulting from changing one or multiple elements, thus giving your business model a different orientation.
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