This year I have been intensely focusing on the Lean Startup Methodology and while I’ve talked about it quite a bit on my blog, I don’t think I’ve ever taken the time to fully explain it! If you rewind even one year I had not heard of Lean Startup myself so I don’t expect many of you to know what it is. That being said, once I learned about the concept and process involved, I was immediately hooked and it has not only helped to streamline my business, it has honestly changed the way that I think.
So let’s dive in, allow me to introduce you to the founder of the Lean Startup Movement and creator of the term “Lean Startup” Eric Ries:
Eric not only created the term “Lean Startup” but is also the leader of the movement and recently finished an excellent book about the lean startup process. I had the chance to read Eric’s book actually before it was finished as he gave a copy away to all the attendees of his conference, Startup Lessons Learned earlier this year in San Francisco. Eric is a successful Entrepreneur who found a better way to build a business and took the time to document the process. His methodology is now used by many major startups and is wildly popular with Venture Capitalists and Angel Investors who see this methodology as a way to get traction and find success much quicker than ever before.
The lean startup process can be summarized as the following:
- Coming-up with the assumptions you are making about your customer (or your customer’s beliefs)
- Creating a MVP (Minimum Viable Product) – the bare basics of what you plan to build but enough for customers to test out
- Testing your assumptions and determining if they are correct or not
- Rapidly iterating making changes based on customer feedback
- Major focus on Customer Development, iterating and pivoting based on the feedback you receive
Now I am far from a Lean Startup Expert, heck I just started learning about it this year but I’m doing everything I can to learn everything I can! As you all have probably learned about me by now, I love learning new things and constantly challenging myself to change how I work. I know that one of the keys to success in business is not getting stuck in your ways and assuming you know everything but instead learning what’s out there and if there might be a better way to do what you’re doing.
If you want to learn more about the Lean Startup Methodology I definitely highly recommend reading Eric Ries’s book and attending one of the great Lean Startup conferences, competitions, or events taking place throughout the year. Of course I’ll continue to share everything I learn about Lean Startups right here on my blog and since I’m using this every single day, I have a lot to share!