As an entrepreneur, understanding the Lean start up is a big help especially for those who are just starting. Lean startup is a methodology for developing businesses and products that aims to shorten product development cycles and rapidly discover if a proposed business model is viable; this is achieved by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and validated learning.
According to Eric Ries, “A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty “. It follows the Lean-Build-Measure process . Building a lean start up is about finding problem, validating that problem, and building a product that will solve the problem that’s why it answers the question ” should this product be built ? ” rather than a more traditional question which is ” can this product be built ? ”
When choosing a business idea to execute with the Lean Startup Methodology, it is important to consider whether or not the problem that your product will solve is important enough for customers to want to purchase it. Finding a business idea can be tricky, so it is important to pay attention to problems people are facing in everyday life. Customers must be actively searching for a solution to the problem in order for your product to gain traction and that is your responsibility to know or validate their needs . Continual testing and validation is built into the lean startup process in order to get the product into the customer’s hands as fast as possible while maximizing the business’s growth.
In the end, you’re continually validating, rebuilding or re-innovating your product, adding new specs and etc. to satisfy and answer the costumers needs which is constantly changing depending on arising problems.
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