What is a Lean startup
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The document discusses the lean startup methodology for starting a business. It emphasizes identifying the riskiest assumptions and systematically testing assumptions through customer interviews and validation. A startup should search for a repeatable and scalable business model by going through the cycles of customer discovery and customer validation to minimize time to finding product-market fit. The business model canvas tool can be used to identify key assumptions to test. The goal is to pivot the business model based on learnings to find a model that customers will pay for.
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What is a Lean startup
- 1. Startup Leadership program Bangalore 5 October 2013
- 2. MVP Business model Riskiest Assumption Pivot Idea Hypothesis Lean Startup? Customer Interviews Eliminate waste
- 5. But In a startup… Problem: Unknown Solution: Unknown Unknown: Unknown
- 6. @eric ries
- 8. A Startup is a temporary organization designed to search for a repeatable and scalable business model Steve Blank
- 10. Process 1 Document you idea 2 Identify riskiest assumption 3 Systematically test you assumptions
- 11. Fill your Business Model Canvas
- 13. Search for Business model Customer Discovery Customer Validation
- 14. Search for Business model Customer Discovery •Is the problem worth solving •Do we have a solution that meets customer needs •Are customers ready to pay •Do we have a profitable business model Customer Validation
- 15. Minimize total time through the loop
- 16. Search for Business model Customer Discovery Customer Validation •Are there enough people to buy •Are we able to sell to them •Do we have a repeatable business model
- 17. Search for Business model Customer Discovery Customer Validation •Is the problem worth solving •Do we have a solution that meets customer needs •Are customers ready to pay •Do we have a profitable business model •Are there enough people to buy •Are we able to sell to them •Do we have a repeatable business model Pivot
Editor's Notes
- the core of customer development is blissfully simple: products developed by founders who get out in front of customers early and often win