The core of Lean Startup

The lean startup method is an approach to starting and running a new business that emphasizes the importance of rapid experimentation and learning in the process of developing a successful product or service. It was developed by entrepreneur and author Eric Ries and is based on the idea that traditional business planning is often inefficient and wasteful, and that it is better to focus on creating a minimum viable product (MVP) and then learning from customer feedback in order to continuously improve and iterate on the product or service.

The lean startup method involves a number of key principles and practices, including:

1. Build-measure-learn: The process of continuously testing and refining a product or service in order to learn what works and what doesn’t, and using this knowledge to improve the product or service.
2. MVP: The development of a basic version of a product or service that has enough features to allow early customers to test and provide feedback, which can then be used to improve the product or service.
3. Customer development: The process of actively seeking out and engaging with potential customers in order to learn about their needs, wants, and pain points, and using this information to shape the product or service.
4. Continuous iteration: The practice of constantly updating and improving a product or service based on customer feedback and data, in order to better meet the needs of the market.

Overall, the lean startup method is designed to help entrepreneurs and startups quickly and efficiently validate their ideas, identify and solve problems, and create successful products or services that meet the needs of their customers.

The benefits of Lean

There are a number of benefits to working with Lean.

• You lose less time and costs;
• You make a product or service that the customer wants;
• You don’t spend time or energy making a business plan, but you experiment.

3 building blocks of the Lean Startup Method

The Lean Startup Method consists of 3 building blocks:

• Business Model Canvas: Make sure to write down all the hypotheses about a new business idea on;
• Customer Development: A process to test the hypotheses outside the building.
• Agile Development/Engineering: Make sure you quickly build a Minimal Product to test the product and market.