A methodology that focuses on building a business or product through iterative development, continuous feedback, and validated learning to minimize risks and increase the chances of success.
Lean Startup is like driving with a GPS—you’re constantly checking your route and adjusting based on real-time feedback to reach your destination efficiently.
A startup uses Lean Startup principles to develop a minimum viable product (MVP), gather user feedback, and iterate quickly based on what they learn.
Lean Startup helps businesses avoid wasting time and resources on products that don’t meet customer needs by emphasizing early testing and iteration.
Implementing Lean Startup can lead to faster product-market fit, reduced development costs, and a higher likelihood of success by focusing on customer needs.
Start with an MVP; focus on validated learning through experiments and customer feedback; be prepared to pivot based on what you learn.
Failing to validate assumptions before scaling; overcomplicating the MVP; not acting on feedback quickly enough.
Customer acquisition cost (CAC), lifetime value (LTV), customer feedback loop time.
Lean Canvas, A/B testing tools, Customer feedback platforms like SurveyMonkey.
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