Business model validation plan

Set up experiments to validate the assumptions you've made in your new business model prototype.
boardofinnovation-business-model-validation-plan

What is this for?

The business model validation plan provides a structured space for you to set up and build upon the experiments you’ll need to run to test critical assumptions. It will save you time by falsifying hypotheses in your business model before you proceed to product-market fit.

Tip
Use your experiment cards as the basis. You might want to include the customer desirability validations that you’ve already completed and put them in phase 1 of the template

Step-by-step guide.

Step 1

Split your guide canvas horizontally into phases, such as: 1. Customer desirability 2. Business model viability 3. Technical feasibility

Step 2

Define your experiments based upon the assumption tests that you’ve already run (or will run). List these in vertical columns per phase. Think about this template as giant experiment cards lined up next to each other.

Step 3

Run your experiments. Report on the (in)validations for each phase and experiment conducted.

Step 4

Update your canvas and document if you pivoted your business model concept (hint: you will, and that’s okay). Write down your learnings and move on to the next experiment.

Step 5

Use the validation plan as a living document to report on your team progress as you move towards market fit.

Business model validation plan

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