How To Use Test Cards and Learning Cards in Product Management

An Introduction to Hypotheses-Based Lean Product Management

In hypotheses-based Product Management, we know, that we don’t know anything. In fact, not even the users know what they really want.

Henry Ford once said:

“If I had asked people what they wanted, they would have said faster horses.” — Henry Ford

We build our products on lots of assumptions and we call these assumptions hypotheses. And in general, the core job of a Product Manager is to create value for customers and the company. But to create value with the right product you have to figure some things out.

For example, you need to find the right product-market fit. But there are a couple of risks involved in Product Management and Product Development that can hinder us from reaching our goals of finding the right product-market fit.

Risks like:

• Value Risk — Will the customers like our product and will they be willing to pay for it?
• Usability Risk — Can the users figure out how to use the product and will they enjoy using the product?
• Feasibility Risk — Can we build the product well enough so that it fits the market needs and trends?
• Business Viability Risk — Can we make it a business model and profit from producing the…