Published 06 Feb 2014
The Lean Startup movement is all about finding a market fit faster and with less waste. It's proven to be a successful way of running new businesses and the philosophy have even been successfully adopted by big businesses. It all started with Eric Ries book The Lean Startup. Here are the principles.
Source: The Lean Startup Methodology
You don't have to work in a garage to be in a startup.
A startup is an institution, not just a product, so it requires management, a new kind of management specifically geared to its context.
Startups exist not to make stuff, make money, or serve customers. They exist to learn how to build a sustainable business. This learning can be validated scientifically, by running experiments that allow us to test each element of our vision.
To improve entrepreneurial outcomes, and to hold entrepreneurs accountable, we need to focus on the boring stuff: how to measure progress, how to setup milestones, how to prioritize work. This requires a new kind of accounting, specific to startups.
The fundamental activity of a startup is to turn ideas into products, measure how customers respond, and then learn whether to pivot or persevere. All successful startup processes should be geared to accelerate that feedback loop.