Lean Startup is a methodology formed to setup and develop a business. It essentially suggests that you forgo the traditional steps of business planning, pitching, product development and hard selling. Instead, the methodology suggests you identify your problem, iteratively develop your Minimum Viable Product and involve customers along the way to accelerate your startup. Lean Startup methods can teach you how this cycle can be optimised to minimise the duration.
For example…
Dropbox is a lean startup. They started off by producing a three-minute video of what Dropbox could do. Once they established there was sufficient product demand and captured users’ needs, they developed their product to cater to these requirements. This iterative cycle of product development, releasing it to users and then acting on the feedback meant that Dropbox went from a hundred thousand registered users to over four million in just fifteen months.
