Goal: Know how to validate Value Proposition hypotheses

What product or service are you building, for who and what does it solve? Why is having a customer persona/archetypes important? How could Value Proposition hypotheses be validated? How should Minimum Viable Products (MVPs) be designed for physical and web/mobile products respectively?

References: Business Model Generation (Alexander OsterWalder & Yves Pigneur, 2010), The Four Steps to the Epiphany (Steve G. Blank, 2007), The Lean Startup (Eric Ries, 2011)