The Lean Startup Methodology

Lean Startup: Build, Measure, Learn (Fast!)

Don’t waste time and money building the wrong thing.

1. The “Build” Phase:

• Start with your hypotheses: What do you think customers want?
• Create a Minimum Viable Product (MVP):
  • What’s the smallest thing you can build to test your core assumption?
  • It doesn’t have to be perfect, just functional enough to get feedback.
  • Example: For a new bike, maybe it’s a sketch, a landing page, or a simple wooden prototype.

2. The “Measure” Phase:

• Get it in front of early adopters: Collect data on how they use (or don’t use) your MVP.
• Focus on actionable metrics: Not just “likes,” but actual engagement.
• Example: How many people signed up? How many used the core feature?

3. The “Learn” Phase:

• Analyze the data: What did customers actually do? What did you learn?
• Validate or Invalidate: Did your MVP confirm your hypothesis, or disprove it?
• Example: Did customers want a bike, or were they trying to turn it into a scooter?

4. The Big Decision: Pivot or Persevere?

• Persevere: If your hypothesis was validated, continue building and improving.
• Pivot: If your hypothesis was invalidated, make a fundamental change to your strategy (e.g., new customer, new problem, new solution).
  • Remember: A pivot is a structured course correction, not a failure.

Golden Rule: Speed of learning is your competitive advantage. The faster you Build, Measure, and Learn, the faster you’ll find what customers truly want.