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An Introduction to the Lean startup
methodology
What?
The Lean Startup Methodology (LSM) is an approach for launching products/services Based on Japanese lean manufacturing principles
The LSM relies on validated learning, experimentation, and iterative product releases to: Shorten product development cycles Constantly measure progress Gain valuable customer feedback
What is waste for a startup?
Why?
We eliminate uncertainty We work smarter, not harder We create order Shorten product development cycles
HypothesizeStep One: Create a hypothesis for your product or
service
Fill out the lean CANVASSpend 15min for the first version
Guess
Guess
Guess
Guess
Guess
Guess
Guess Gues
s
Guess
Build-Measure-Learn
Build
Step Two: Build a basic version of your product A minimum viable product (MVP) is the version of a new
product which allows a team to collect the maximum amount of validated learning about customers with the least effort Prototype Website Design Mockup Video Describing Your Product
MVP
MVPProduct
Measure
Step Three: Get your product out there and measure the results Web Page Analytics: How are people interacting
with your site Videos: Number of views and comments Landing Pages: How many people sign up? User Testing A/B Testing: What do people respond to?
Vanity Metrics
“Vanity metrics make you feel good but don’t offer clear guidance on what to do”
● Eric Ries, The Lean Startup
Learn
Step Four: Take your data and analyze it What did customers respond to? What didn’t they respond to? What created value? What diminished value?
Does my data validate my hypothesis?
Pivot vs. Persevere
Once we’ve analyzed our data we can decide to: Pivot
Something is fundamentally wrong and we need to change our hypothesis
Persevere Stay the course and continue on with our existing
hypothesis
Repeat