The Lean Startup

The Lean Startup

1. Principles

   • Entrepreneurs are everywhere
   • Entrepreneurship is management
     • Our goal is to create an institution
     • not just a product
   • Validated Learning
     • On time?
     • On budget?
     • With high quality?
     • With beautiful design?
   • Build – Measure - Learn
   • Innovation Accounting

2. What is a startup?

   • is a human institution designed to
     • deliver a new product or service
       • under conditions of extreme uncertainty.

3. Myth/Truth

   • 1.
     • Lean means cheap. Lean startups try to spend as little money as possible.
     • The Lean Startup method is not about cost, it is about speed.
   • 2.
     • The Lean Startup is only for Web 2.0/internet/consumer software companies.
     • The Lean Startup applies to all companies that face uncertainty about what customers will want.
   • 3.
     • Lean Startups are small bootstrapped startups.
     • Lean Startups are ambitious and are able to deploy large amounts of capital.
   • 4.
     • Lean Startups replace vision with data or customer feedback.
     • are driven by a compelling vision, and are rigorous about testing each element of this vision