What is the Lean Startup methodology?
— The Lean Startup is a risk reduction methodology for early stage ventures that focuses on understanding customer needs and finding product market fit.
How is a business plan for a startup different from a large corporation?
— A business plan for a startup involves mostly unknowns, not knowns, unlike a large corporation.
Why do startups often fail?
— Startups often fail due to confusing search and execution, as they are not smaller versions of large companies and execute known business models.
What does the Lean Startup consist of?
— The Lean Startup consists of hypotheses, customer needs, and jobs to be done, and it is a combination of business model design, customer development, and agile engineering.
How can startups find product market fit?
— Startups can find product market fit by getting outside their building to understand the collective intelligence of potential customers and by building and testing minimum viable products to solve customer problems.
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