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  • We put all these together, and we have a great series of hypotheses.

  • What's interesting is the word hypotheses.

  • I call that a $50 word.

  • That really sounds pretty important,

  • and I use it when I teach this class in universities.

  • But you know what?

  • The word hypotheses is really a fancy word for guesses,

  • and if you really think about it when you fill out the business model canvas

  • all you have is a series of guesses.

  • That's it. That's all we have is a series of guesses.

  • What's great about the business model canvas is it allowed us to organize

  • our thinking not around functional organization like what is sales doing

  • or what's marketing doing or what does our spreadsheet say

  • but just around a series of thoughtful first guesses

  • about who do we think our customers are and what products are we making for them,

  • and how much are we going to charge, and that's great,

  • and you could sit around all day or all week in your conference room

  • figuring out what those are.

  • But the odds are you're probably wrong, but it's a great first starting point,

  • but the question is how do we change those guesses into facts?

We put all these together, and we have a great series of hypotheses.

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