Lean Startup Methodology

By: A Staff Writer

Updated on: Jul 19, 2024

What: Uses quick experiments and customer feedback to validate product/market fit before large-scale investment.

Who: Eric Ries, inspired by lean manufacturing principles.

Why: Reduces risk for entrepreneurs, saves money, and helps create products customers actually want.

When: For new ventures, when your product has many unknowns, or entering an uncertain market.

How:

1. 1. Create a minimum viable product (MVP).
   2. Collect customer feedback early and often.
   3. Pivot if needed based on what you learn – don’t stick stubbornly to the original plan.