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November 17, 2016

[Video] What is a lean startup? – Bobby’s Minute, ep. 57

ep57

This is actually the right way to start running a startup.

Check out the definition of the MVP here.

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Transcript:

What is a lean startup? The term “lean startup” first appeared in the “Lean Startup” book, by Eric Ries. A startup that uses the lean methodology is a startup that iterates really fast on their own product. So, what they do, is that they create the minimum viable product, they put it on the market, they test the reaction to that product and they improve based on the reaction of the potential users and of the users of the product.

And they do it as fast as possible, so that they get to a version of the product that is market fit as early as possible, instead of working in a void and then putting the product after one or two years of development in the market.

This way, by using the Lean Startup methodology, you can actually course-correct really fast. You can actually correct the mistakes of the product early in the creation of the product, instead of waiting for a year or two before putting the fully featured product in the market and maybe be wrong about it.

The lean startup helps you not make the mistakes when it’s too late and you’ve run out of money.

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