lean-startupRecently, I have just heard people are talking about Lean startup philosophy but not clear what its factors about?
So can you tell me “What are the key factors of the Lean startup philosophy”?
Lean Startup was first proposed by Eric Ries in 2008 and the topic was further explored in his 2011 best selling book with the same name. Eric himself was influenced by some of the early ideas about the topic by Steve Blank. The key principles of the Lean Startup movement are described on the Lean Startup website (http://theleanstartup.com/principles). They refer to the ubiquitous nature of entrepreneurs and entrepreneurship. Startups need to engage in validated learning the key aspects of which are Build, Measure and Learn.
This typically involves building an MVP or minimum viable product, that can allow you to test your hypothesis with real customers to validate your idea. Using A/B testing to measure and constantly improve your product and build something your customers really want.
If you are interested to know more it is worthwhile to buy Eric’s book http://www.amazon.com/The-Lean-Startup-Entrepreneurs-Continuous/dp/0307887898 It is a good read and highly relevant.
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