- What is Lean? What is Startup? What is Lean Startup?
- Case Studies
- Stages of a Startup Lifecycle
- What is MVP / MVE?
- Assumption / Hypothesis / Experiment / Pivot or Persevere
- Validated Learning / BML
- Lean Startup Myths
- How do we win?
Catalyst | Change Agent | Philomath
Lean Startup, India Accelerator
Passionate about running
Avid Marathon Runner
What kinds of Uncertainty?
Technical & Product Risk
Can we build this?
Customer & Market Risk
If we build this, will people buy it?
Business Model Risk
Once we build this, can we make money from it?
What is an assumption?
• Starts with “I/We believe that” statements
• Clarifies your current understanding of what you
don’t know with uncertainty
• Some are more important that others
• Identify and isolate critical assumptions
What is hypothesis?
• “If then” statement that helps design tests for an
• Clarifies your current understanding of what
uncertainty you seek to resolve
• Is Specific in action, timing, value / amount of
• Helps to design and build a MVP
What is an Experiment?
• A scientific test undertaken to make a discovery,
test a hypothesis, or demonstrate a known fact
• Process of rapidly learning what customers want
and will pay for
• Test Assumptions so that you don’t waste time
and money building the wrong thing
What is a MVP (Minimum Viable Product)?
• Experiment that helps you validate (or invalidate)
hypothesis about the value or growth potential of a
• MVP helps you answer a specific question about
one of your assumptions
• Building a MVP is not a one time event
What is Pivot/Persevere?
• Pivot – Change in direction without a change in
• Persevere – A team’s decision to test the next
most important hypothesis
What is Validated Learning?
• Identify assumptions
• Isolate critical assumptions for testing
• Draft your hypothesis to be tested
• Build an Experiment
• Measure the Results
• Persevere or Pivot
Lean Startup Myths
– Lean means cheap. Lean Startups try to spend as little money as
– Lean Startup is applicable for Internet/Consumer Software Companies
– Applicable for small bootstrapped startups