We all make assumptions every day, about many things—you take something as a given, when in fact it may not be 100% true. Assumptions simplify things in the business world, but they’re also risky. Entrepreneurs should always test their assumptions.
Of course, testing every assumption would take so much time that most businesses would never get off the ground. But you must test some assumptions to protect yourself. An incorrect assumption could cause you to miss something important and leave you unprepared for a situation, and your business might not succeeed. It’s happened before.
This module is useful for anyone who wants to:
- Analyze a business idea and examine the idea to make sure the planned outcomes are realistic.
- Write a business plan and do further research into the parts of the business which are underdeveloped.
- Mitigate the risks involved in a business idea.
So, really, this model is for any smart business person! Is that you?
Topic Objective: Learn how to identify and test your assumptions.
Your Outcome: Be more confident in your strategy.