The Lean Startup

How should we approach a new product idea/insight?

Lean Startup is about turning product insights into sustainable businesses using scientific experimentation.

The book lays down a framework for designing, conducting and inferring experiments around the fundamental hypothesis of a product idea and how it’s going to make money and grow.

It suggests, any insight contains some facts and some assumptions. Therefore the entrepreneur or the product development team needs to separate those facts from the assumptions and try to come up with ways to test those assumptions.

Many concepts are explained in the book including:

• minimum viable product
• validated learning
• vanity metrics vs. actionable metrics
• early adapters vs. mainstream customers
• pivots and pivot types
• batch sizes
• release cycles
• the 5 whys …

This work is considered best practice and already a classic!

📙 happy reading!