Lean Startup is an approach to launching products and services based on validated learning, scientific experimentation, and iteration with the client.
Definition Of Lean Startup Methodology
The lean startup method is created on “validated learning,” gradually verifying the suggestions before having the final product (the definitive startup) and starting to scale the business.
The Lean Startup method is a business management methodology whose main objective is to create a scalable business model in an agile and safe way, shortening development cycles. The Lean Manufacturing methodology seeks to improve production processes, maximize efficiency and reduce unnecessary procedures or resources or those not adding value to the consumer or client, eliminating excessive practices and establishing continuous innovation processes.
The lean startup method helps entrepreneurs quickly figure out if their business or product is viable in the long term. This typically involves launching a bottom viable product (MVP), or the artless version of your product or service, and soliciting customer feedback. The results of these efforts may show where the company can drop wasteful practices, make changes to a product, and pivot to another idea entirely. And also create new business models.
These concepts have appeared in previously established analyses and research, including agile development, lean manufacturing, and customer development.
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Search Terms For Lean Startup Methodology
- Lean Startup
- Eric Ries
- Minimum viable product (MVP)
- Customer development
- Innovation accounting
- Hypothesis-driven experimentation
- Customer feedback
- Agile development