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How Lean Startup provides a scientific approach to create and manage startups and get a desired product to customer's hands faster. <br><br>Find more relevant stuff at: https://www.dtechsystems.co/resources/
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WHY THE LEAN START-UP CHANGES EVERYTHING
The Classic Way to Start A Business
You Can’t Make Good Predictions Five Years in Advance The assumption is that it’s possible to figure out the unknowns of a business in advance - before executing your idea. That just isn’t realistic.
Most Product Developers Don’t Get Customer Feedback Until It’s Too Late.
THE PRINCIPLES OF LEAN START-UPS
The Business Model Canvas Sketch out hypotheses. A Business Model Canvas.
Customer Development Listen and learn.
Minimum Viable Product A version of a new product that allows a team to collect the most learning about customers with the least effort.
Agile Product Development Iterate quickly.
Traditional Product Development Is Long and Linear
Agile Product Development Has Short, Quick Cycles
Lean Execution Ramp up operations quickly.
Organizational Differences TRADITIONAL VENTURES LEAN START-UPS Have Functional Departments Hire for Experience And Ability to Execute Have Agile Teams Hire for Ability to Learn, Nimbleness, and Speed Measure Income, Revenue, Assets, Cash Flow Report Customer Acquisition Costs, Lifetime Customer Value, Churn, Viralness
The Spread of Lean Methods
Business schools are embracing lean start-ups. Corporate entrepreneurs are going lean too.
The Past vs. the Future TRADITIONAL VENTURES LEAN START-UPS Elaborate Planning Experimentation Intuition Customer Feedback Up-front Design Many Design Iterations
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