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GLOSSARY

Lean startup

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The Lean startup methodology advocates for building a minimum viable product to quickly validate business ideas, minimize waste, and iterate based on customer feedback.

What is Lean Startup?

Lean startup is a methodology that emphasizes building a minimum viable product (MVP) to test business hypotheses quickly.

Why It Matters

By validating ideas early with real customer feedback, startups can reduce the risk of failure and optimize their product-market fit.

Examples

  • Dropbox, which started with a simple demo video to gauge interest before building the product.
  • Zappos, which tested the online shoe store concept by manually fulfilling orders before investing in inventory.

Concepts

  • Agile Development: Complements Lean startup by providing a framework for iterative development and continuous improvement.
  • Minimum Viable Product (MVP): The smallest version of a product that allows a team to collect the maximum amount of validated learning about customers with the least effort.

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