October 2020: What does pretotyping success look like?

Hi there,

To design a successful pretotype, one of the most important things is to establish your XYZ hypothesis . This is where we "say it with numbers," writing a statement that helps us measure what success looks like. It's a fill-in-the-blank exercise, and it goes like this:

At least [X = percent] of [Y = market segment] will do [Z = action]

This is what makes pretotyping so powerful. By agreeing on these numbers upfront, we get really clear on what success looks like for these pretotypes or experiments.

The example I give in our online pretotyping course is to do with second-day sushi.

Our first (too vague) hypothesis is that ‘people will buy second day sushi if it’s cheap enough,’ but this doesn't tell us what success looks like. Instead, we need an XYZ hypothesis: "At least 20 percent (that's X - the percent) of packaged sushi-buyers (that's Y - the market segment) will buy second day sushi if it’s half the price of fresh sushi (that's Z - the action). (By the way, no-one wanted second-day sushi - we killed that idea pretty fast).

Naming your Y (the market segment) and Z (the action you want customers to take) is pretty easy. But how do you work out what percentage to choose? How do you solve for X?

This has been the #1 question asked by pretotypers in our private, free Slack channel this month, and Alberto has delivered the answer is style, with a video called the Math of Success:

The pretotypers in our Slack channel had lots of follow-up questions for Alberto - join our community to see what everyone had to say, and to ask your own questions. You will have direct access to me and Alberto, and there are even more explainer videos made especially for pretotypers.

Join our Slack community!

We'd also love to see you in our new Learn Pretotyping online course. Start with a free preview here and, when you're ready, use the code pretotype19 for 19% off until the end of the month!

If you're experiencing financial strain due to COVID-19, please send me a note at leslie@exponentially.com and I’ll see how I can make this course more affordable for you.

Meet this month's scholarship winner, and apply now!

Every month, we offer one scholarship to our Learn Pretotyping online course.

Recipients receive access to the course for just $99*, along with a one-on-one call with Exponentially’s founder, Leslie Barry, to kickstart your innovation journey. This month's scholarship winner is Mustafa El Maghrabi - Congratulations, Mustafa. To put your hat in the ring for next month's scholarship, head to the application form.

*Why $99 tuition and not $0 for scholarship recipients? Because there will be only one scholarship granted each month and just a little bit of 'skin in the game' helps to make sure we only get serious applicants.

Leslie Founder | Exponentially www.exponentially.com

Exponentially, 7 Riverside Quay, Melbourne, Victoria 3006, Australia

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