How do you design a lean experiment to test your product idea?

I have experience designing a lean experiment to test a product idea, starting by clearly defining hypotheses and identifying key success metrics. We create a minimal viable product (MVP) and select a target audience for testing. Choose appropriate distribution channels and set a timeline for the experiment. Airbnb, for instance, initially tested its concept by creating a simple website with photos of their co-founders' apartments and offering lodging during a conference. They gathered feedback, iterated quickly, and gradually refined their product based on user responses, demonstrating how a lean approach can efficiently validate and evolve a product idea.

A key approach that you can take when defining your problem is to ask 'why' questions to identify and gain an in-depth understanding of the issue. You could ask a series of 'why' questions that follow on from each other.

Here are some steps to follow: Start with a question.: What do you want to know? Do some research.: Gather information about your topic. Form a hypothesis.: This is a prediction about what you think will happen. Test your hypothesis.: Design an experiment to see if your prediction is correct. Analyze your results.: Did your experiment support your hypothesis? Draw a conclusion.: What did you learn?

Choosing an experimental design for your research project is a complex process. You should consider the research question, the independent and dependent variables, the sample size and selection, the control and treatment groups, the data collection and analysis methods, and the ethical and practical issues.

I think that the best mantra for designing experiments for new products is 'Do Things That Don't Scale,' as advocated by Paul Graham's famous material. You should focus on delivering value in the simplest way for real users, rather than getting caught up in the complexity of technology. Techniques like Fake Doors, manual operations, and pre-sales in direct channels are effective tools for proving an idea. It's also important to distinguish between new product launches and features that enhance an already reached product-market fit. For the latter type of tasks, this approach might be more costly. It might be better to launch a new functionality based on PM expertise, with testing through cohort analysis or A/B testing.

The design phase of an experiment is critical as it lays the foundation for the entire process. It's important to remember that the success metric should be clearly defined and directly linked to the experiment's goal. Also, the duration of the experiment should be long enough to gather meaningful data but not so long that it delays decision-making. Lastly, the choice of tools or platforms can greatly influence the efficiency of the experiment, so it's crucial to choose those that are reliable and suit your specific needs.

Running an experiment to test a product idea is a critical step in the lean methodology. It's important to ensure that the experiment is set up correctly to accurately test the hypothesis. The choice of tools and metrics for monitoring and tracking the experiment is crucial as it directly impacts the quality of data collected. It's also essential to have a well-defined process for inviting the target sample to participate in the experiment to ensure a representative response.

--> Analyze results to Compare the collected data against your success metrics. Determine whether your hypothesis is validated, partially validated, or invalidated based on the results. --> Learn and Iterate if the hypothesis is validated, consider what improvements or additional features can be added.If the hypothesis is invalidated, analyze why and refine your assumptions. Iterate on your product idea or pivot to a new approach.