Week 5: Lecture Series Day 1: Interview Planning and Hypothesis Testing

 Interview Planning and Hypothesis Testing

Recap

    Previously on my blog, I discussed how effective communication and storytelling are essential in pitching your ideas to the customers. Next, we need to actually be able to apply them by planning an interview and doing testing with hypothesis formulated. Enter the lesson discussed in the day 1 of lecture series day: Interview Planning and Hypothesis Testing

    Two important tools in technopreneurship that help business owners and entrepreneurs make informed decisions about their products or services are Interview Planning and Hypothesis Testing.

Interview Planning

    In the lesson, I learned that interview planning involves formulating sets of questions and methods in order to conduct an interview with stakeholders, customers, etc. In the case of our startup, it would be customers, specifically students and business owners. In order to conduct a successful interview, we need to be able to plan systematically by defining the research problem and test questions on a small sample to test if it is relevant or not. The purpose of these is to be able to understand the needs of customers, their preferences, and behaviors so that the team can be able to meet the desires of their target customers. 

Hypothesis Testing

    In the lesson, I learned that hypothesis testing involves creating a hypothesis or a theory regarding a part of the subject matter, and then test that hypothesis through conducting experiments or analysis of data. For instance, say that a team has a startup involving making nutritious energy drink for users, the hypothesis could be that the customers are willing to buy the product if they can see testimony of its nutritious benefits. To test this hypothesis, the team could freely sample the product to a small group of people and letting them give feedback as the testimony of the product's nutritious benefits.  

Conclusion

    In conclusion, interview planning and hypothesis testing are essential techniques for entrepreneurs especially on startups, because they help the entrepreneurs, or technopreneurs to make decisions based on the data results from real-world feedback and analysis. Through interviews and hypothesis testing, technopreneurs can avoid assumptions and biases, and make informed decisions that can help startups succeed. Our team, the Heart seekers, would benefit from these techniques to help make informed decisions too.