Hypothesis. So, hypothesis is if and then statements were designed that helps to design the test or for the assumption, what will happen if we have this. So, I bought this is also part of assumption, when we say, what will happen with this if certain things happen, for we will we will learn it from an example. So it clarifies your current understanding of what is the uncertainty you want to resolve, and in specific is specific in action, time and value and the amount of impact so, these hypotheses are also assumptions, but we need to specify them and it helps to design and build an MVP we will learn what is MVP in the future. In continuing our example on hypothesis we made the founders made and current critical hypothesis is that professional photographs, get two to three times more business and hosts don't run the free photographer and will the host will not turn down the Free professional photography.

So that was a very critical hypothesis after a certain period of time when they were not having a booking on Airbnb, so they decided maybe the professional photograph will help to gain more business so that was a current app it was an assumption and hypothesis is if we build it happens the assumption is that people will like more with the more photos right so hypothesis is if we build a we have a professional photographs, the business will grow by two to three times. And another hypothesis is that almost will not turn down the free photography because the Airbnb is taking the photo host doesn't need to take any photographs. So they will not they will not be any complaints from the host. So that was another hypothesis that was put on the test. So right, then what is an experiment experiment is to test what our hypotheses and assumptions to test how valid are they So, it's a scientific procedure undertaken to discover or test to make a discovery test hypothesis or demonstrate unknown facts.

So, this is the definition of the experiment or a scientific test, in which we perform a series of action carefully observing the effects in order to learn about something. So, what are the critical things in experiment it has to be scientific procedure means it has to be a defined procedure, how we are going to test and we are measuring the reserves. The third part is we are going to learn about them So, that we can understand Is it true or not true? How or how much is the impact of this particular hypothesis. So, when we are generating any hypothesis of a business we have to do some experiments. So, that we can understand are the impacts really the one that we are understanding right.

So, then what is a minimum viable product, so, minimum viable product is also one of the things fundamental aspects of lean startup, which says that we need to experiment. So that experiment that helps you validate the hypothesis about the value of the growth potential for a new product. So MVP helps us to answer that specific question about one of our assumptions. So it MVP will only be able to answer particular spectryx specific questions only. So it will not be able to answer all the assumptions in one time. So you it's not a one time process.

It's a continuous process. You have to develop one minimum viable product, test it, learn it and then you experiment you validate your hypothesis or validate your assumptions, and then move on. So this is not a one time event. It's a continuous event until you launch your product. validated learning means we translate our critical assumptions into the experiment and we are learning isolated creating a learning facility Step isolate the critical assumptions for testing, we draft our hypothesis which needs to be tested, how much will be the empowerment is the desired effect. And then we build an experiment towards it.

After that, we measure the results from the experiment. And then we collect the data and learn into a systematic manner. So this is how we will develop the validated learning. So, it's a very critical thing is, first we understand critical assumptions, we make hypothesis out of it. We generate the experiments we measure the results and then we learn about it for example in Airbnb, so they our assumption was that the business is not coming the business are very slow. When they launched the business there was only a few learnings.

And the reason why they found out was the photo of the houses which were listed on the Airbnb were not very good. So what did they make assumption that if we update the photos, there may be better learning so they made a hypothesis that if we do a professional photographing, we spent so much of money, the business will grow two to three times. So they built an experiment, they go to certain houses, they took the pictures for free, they give and then upload it on the website. And then they monitor the business. Is it working? Not working?

If working Yes, how much is the results? So and then they collected the data so that you can actually go and scale it up. It's not like you go and take all the pictures and all the houses before you actually able to understand will this help because professional photography will cost you money will cost you time. So rather than going all the way all your own all your listings, are asking your host to take the professional photograph and upload it on the website. you rather go and take the professional photographs tested. Before we develop the profile.

The photograph is rendered for the new host as well. Right. So that's the validated learning, customer development how we develop the customer. We talk To the people's right we go out of the building we understand we talk to them, we, we and we take their feedback on our product. So that we can get in, we can get more about we can learn about their behaviors, what they need, and how our product is going to help them. So we can demonstrate our product we take their feedback, how they feel, will they pay for it, how much they will how much they will likely to pay?

So we can start with the first test you which we are running after we built an MVP. So you can start that so that we can understand what are the customer behavior about your particular product. What is called pilot, so pilot means we change the direction without a change in the vision. Vision of the startup never changed vision always remain the same vision after a certain time. strategy can change technical actions can change a narrative at any point of time, but which by what means a change in this strategy Not a vision, or we sometime we preserve preserve means we don't want to change. So it's a team decision to test the next most important hypothesis if we, if our hypothesis are working, so we can preserve and continue to test.

Next hypothesis. But if all our hypotheses are not working means all our assumptions are wrong, then we just buy one offs. So there are many ways to pilot that we're going to be learning in the future as well. So these are