#business #startup #lean Created at 081123 # [Anonymous feedback](https://www.admonymous.co/louis030195) # [[Epistemic status]] #shower-thought Last modified date: 081123 Commit: 0 # Related - [[Eric Ries - The Lean Startup]] # Lean startup methods The Lean Startup methodology, developed by Eric Ries, is a principled approach to new product development that aims to help startups grow a business with maximum acceleration. It is a method of managing and building a business or startup by experimenting, testing, and iterating while focusing on customer feedback. The methodology is based on several key methods or principles: 1. **Build-Measure-Learn**: This is the core component of the Lean Startup methodology. It involves figuring out the problem that needs to be solved, developing a minimum viable product (MVP) to begin the process of learning as quickly as possible, and then tuning the engine based on the feedback received[1][2][3]. 2. **Minimum Viable Product (MVP)**: The MVP is a product with just enough features to satisfy early customers and provide feedback for future product development. It is used to test the market response to the product without fully developing it[2][3]. 3. **Validated Learning**: This principle emphasizes the importance of learning what customers really want, not what they say they want or what we think they should want. It involves testing a hypothesis with the right learning in mind and avoiding vanity metrics that don't provide insight into the actual value of the product[2][3]. 4. **Innovation Accounting**: This method involves measuring progress, setting up milestones, and prioritizing work. It helps startups to hold themselves accountable and to improve productivity[2][3]. 5. **The Pivot**: This refers to the idea of making fundamental changes to the product or business model based on the feedback received from the MVP. It is about being flexible and adaptable in the face of new information or lack of progress[2][3]. 6. **Small Batches**: Working in small batches allows startups to minimize the expenditure of resources and respond quickly to problems as they appear, without over-investing or over-engineering[2][3]. These methods are designed to help startups reduce risk, avoid wasteful practices, and increase their chances of long-term success. They encourage startups to test business ideas and assumptions early, focus on rapid iteration, and pivot based on customer feedback[5][7]. Citations: [1] https://theleanstartup.com/principles [2] https://www.linkedin.com/pulse/10-methods-lean-startup-tim-woods [3] https://www.hypeinnovation.com/blog/the-10-methods-of-the-lean-startup [4] https://www.thehartford.com/business-insurance/strategy/how-to-start-a-business/lean-startup-methodology [5] https://www.shopify.com/blog/lean-startup-model [6] https://hbr.org/2013/05/why-the-lean-start-up-changes-everything [7] https://www.universitylabpartners.org/blog/what-is-lean-startup-methodology [8] https://www.appvizer.com/magazine/operations/project-management/lean-startup-methodology