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An An Introduction to Lean Startup Methodology for the members of the Lean Startup-Zurich community.
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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
We have a fast development cycle so that we’re constantly offering products/services that customers want.
With LSM you ideally don’t spend too much time/money creating things customers aren’t interested in.
Using the LSM you fall fast and fall cheap
Why?
We eliminate uncertainty
We work smarter, not harder
We create order With LSM you have the tools to constantly test your vision
How?
Hypothesize
Step One: Create a hypothesis for your product or service
You might have ideas about product features or who your customer base is Nothing has been tested, these
are still ideas
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
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 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
Resources
The Lean Startup by Eric Ries
Theleanstartup.com
Wikipedia: Lean Startup, Validated Learning
Slideshare: Lean Startup Zurich-MVP/Idea Validation
Repeat
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