The term Lean Startup was coined by Eric Ries
Posted: Sat Dec 28, 2024 5:51 am
In a book named the same. The thing is that many startups begin with a new idea that they believe people want. Then, they spend several months, sometimes years, perfecting this product without ever showing it, even in its most rudimentary form, to potential customers. what-is-lean-startup When they fail to get paying customers, it is usually because they have never talked to potential customers and heard whether the product was of interest to them or not.
And when customers finally test the product and it doesn’t meet belize whatsapp number database their needs as they’d wish, the startup dies. It is a sad and extremely common journey. And the objective of Lean Startup methodology is precisely to avoid this journey. Contents Lean Startup Definition How to be Lean Lean Startup Principles Build-Measure-Learn Cycle Differences between the Lean Startup and the traditional business plan Strategy Speed Product development Failure Lean Startup Benefits Lean Startup Definition The word “lean”, here, has been applied by Eric Ries, Harvard Business School researcher, towards avoiding waste.
It involves identifying and eliminating waste in all the processes, from research to production. In short, in this methodology, the company begins by getting to the market to ask the opinion of potential customers about all elements of the business model: product features, price, distribution channels and economic strategies. With this data collected, the startup creates a minimum viable product (MVP) and ask for customer feedback as quickly as possible. Based on the answers obtained, it aims for new versions and adjusts until it finds the ideal product.
And when customers finally test the product and it doesn’t meet belize whatsapp number database their needs as they’d wish, the startup dies. It is a sad and extremely common journey. And the objective of Lean Startup methodology is precisely to avoid this journey. Contents Lean Startup Definition How to be Lean Lean Startup Principles Build-Measure-Learn Cycle Differences between the Lean Startup and the traditional business plan Strategy Speed Product development Failure Lean Startup Benefits Lean Startup Definition The word “lean”, here, has been applied by Eric Ries, Harvard Business School researcher, towards avoiding waste.
It involves identifying and eliminating waste in all the processes, from research to production. In short, in this methodology, the company begins by getting to the market to ask the opinion of potential customers about all elements of the business model: product features, price, distribution channels and economic strategies. With this data collected, the startup creates a minimum viable product (MVP) and ask for customer feedback as quickly as possible. Based on the answers obtained, it aims for new versions and adjusts until it finds the ideal product.