What is the Lean Startup methodology ?
Lean startup is a methodology for developing businesses and products.
The methodology aims to shorten product development cycles by adopting a combination of
business-hypothesis-driven experimentation, iterative product releases, and validated learning.
The central hypothesis of the lean startup methodology is that if start up companies invest their time into iteratively building products or services to meet the needs of early customers, they can reduce the market risks and sidestep the need for large amounts of initial project funding and expensive product launches and failures
The Lean Startup Methodology explained in 3 minutes:
First create an MVP (Minimum Viable Product).
The idea is to build a product with just the basic features & to give it to early adopters.
Thanks to this you will see directly if your customers are interested by your product and what are the changes required. This will allow you to monitor customer interest, and improvement and/or changes needed with your product.
The Lean Startup methodology fits very well with Agile project.
To follow a good path, it is essential to get early feedback.
The 3 repeated steps of this process are:
The goal of this methodology is continuously testing your product with the market in order to reach quickly the product market fit.
Consider your product carefully and use the correct metrics to measure. This will assist in learning which factors best suit your product to modify it towards your client/customer needs and rebuild if needed.
Eric Ries Lean Startup book review
If you want a more in-depth vision of the Lean Startup Methodologies, watch this 10 min video:
For those who want to really understand the similarities & the differences between Lean Startup & Design Thinking, we strongly recommend you to watch the video featuring 3 extraordinary leaders in business and product design.
Lean Startup and Design Thinking
The Hangout featured Eric Ries (The Lean Startup), Tim Brown, (CEO of IDEO – Design Thinking), and Google Ventures Design Partner Jake Knapp