What is Lean Startup?
A definition of Lean Startup
“The Lean Startup is a methodology that aims to reduce the product development cycle, encouraging the creation of a minimum viable product to gain customer feedback quickly and iteratively improve the product.”
Business Glossary > What is Lean Startup?
Examples of Lean Startup in a Sentence:
The Lean Startup approach helps minimize wasted time and resources.
Many tech companies use the Lean Startup methodology to gain a competitive edge.
By implementing Lean Startup principles, we were able to better meet customer needs.
Why is Lean Startup Important in Business?
Embracing Lean Startup principles enables businesses to tailor their products more closely to customer needs, minimizing risk and maximizing innovation. By focusing on a minimum viable product and iterative development, companies can achieve faster validation of their product ideas and make data-driven decisions.
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Associated Terms
Here are some associated business terms and synonyms for “Lean Startup”:
- Minimum Viable Product
- Pivot
- Build-Measure-Learn
Dropbox Lean Startup
Dropbox used the Lean Startup methodology by creating an explainer video instead of a fully functioning product to validate its concept. This approach helped them gather valuable customer feedback with minimal resources, leading to a successful product launch.
Final Notes on Lean Startup
When implementing a Lean Startup approach, consider these key aspects:
- Focusing on customer feedback
- Starting with a minimum viable product
- Being willing to pivot based on learning
Understanding and applying these principles can significantly improve the success rate of product launches.
This has been a definition of Lean Startup meaning.
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