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                                          

                                            Unsubscribe                                                                   Manage preferences