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The Lean Startup (startup (customers (generate feedback (qualitative,…
The Lean Startup
startup
catalyst
transforms ideas into products
customers
interact with products
generate feedback
qualitative
quantitative
generate data
products are experiments
the learning about how to build a sustainable business is the outcome
information
influences or reshapes the next set of ideas
professionals
training
often emphasizes one element of feedback loop
Startup's Plan
leap-of-faith assumptions
riskiest elements, oh which everything depends
value hypothesis
growth hypothesis
give rise to tuning variables that control a startup's engine of growth
when clear: enter build phase as quickly as possible with MVP (minimum viable product)
MVP: version of the product that enables a full turn on the build-measure-learn loop, with a minimum amount of effort and the least amount of development time
lacks many features (that may prove essential later on)
we must be able to measure its impact
get it in front of potential customers to gauge their reactions
try selling the prototype (maybe)
Part Two: Steer
Build-measure-learn feedback loop
none of these activities by itself is of paramount importance
Build phase
MVP
Measure phase
determining whether the product development efforts are leading to real progress
through Innovation Accounting
quantitive approach that allows us to see whether our engine-tuning efforts are bearing fruit
create learning milestones
assessing progress accurately and objectively
Learn phase
pivot
if one of hypotheses is false, make a major change
new strategic hypothesis
Lean Startup allow to pivot sooner
less waste of time
less waste of money
Essence of the Steering Startup
minimize TOTAL TIME through the loop
identity which hypotheses to test (apply scientific method)
each iteraction: attempt to rev the engine
Order
Activities in this order
Planning in reversed order
what do we need to learn
what do we need to measure
what do we need to build
all techniques are designed to minimize TOTAL TIME through the Build-Measure-Learn feedback loop
Part One: Vision
Part Three: Accelerate
