Validation is an ongoing process and not a set-and-forget exercise. For every critical condition identified one or more hypotheses can be derived and tested. The test results will help in understanding what changes you should make on your initial strategy and/or how to accommodate for potential risks.
Step 1 - List the conditions
Write down on top of each column a critical condition for your strategy. Critical conditions are characterised by high levels of uncertainty and dependence. If you need help identifying your critical conditions, download the Condition Matrix.
Step 2 - Develop the test plan
For each condition, record multiple tests. Start by writing down a falsifiable hypothesis. Then describe how you will test that hypothesis. Specify the metric to be measured and the criteria for evaluating the test results.
Step 3 - Reflect on results
After conducting the experiment, it’s time to evaluate the results and reflect on the new learnings. Be detailed about your findings as they can inform future experiments. Was your hypothesis validated? If so, move on to the next one. If not, take a step back and rethink your approach.