Two weeks ago, I visited Shanghai in China to meet some CEOs. I arrived two days earlier to have some time to looking around business circumstances and landscape. When I got recommendation to visit some great places in Shanghai, I realized that I cannot reach them because something was missing.
That was a map. I cannot reach the destination without map because map let me know the effective course to approach the target. So I entered the nearby subway station to get subway map of Shanghai from info desk. That solved my problem partially.
I should know where I am and which direction to step forward. That is why GPS (Geolocation Positioning System) and compass are always companion to map.
That can be applied to our business. We need a way of Business Model Design (map), Business Model HealthCheck (GPS) and business hypothesis check (compass).
Visual Action Board can make you to validate value hypothesis of your business model. You can plan an experiment and check the real action status as SCRUM project management do.
You can download Visual Action Board template.
*How to use it
- Break down your business hypothesis into 3 parted assumptions. (C-P, P-S, S-E)
- Plan how to experiment on each assumptions.
- Set up criteria on completion and success of experiment.
- Attach experiment post-it to To-Do area of sprint zone.
- Move the experiment post-it to Doing and Done as status changes.
- Reflect the result and share the lesson with your team.
- Decide if the assumption is validated or not.
- Modify the old assumption to new one if it is invalidated.
- All the process is iterative and ordered by C-P, P-S and S-E.
When you finally get all assumptions validated, then what does it mean really? Now you have a product or service that can be sold.