An Introduction to the Lean Startup

 

Lean Startup pic

Lean Startup
Image: investopedia.com

With a BA from Cornell University and an MD from Columbia University, Josh Gibson serves as an executive coach in the San Francisco Bay Area, where he guides management professionals in incorporating emotional data to develop strong teams. In his consulting service, Josh Gibson employs the Lean Startup methodology.

A scientific approach created by Eric Ries, the Lean Startup focuses on achievement through communication with potential customers. Entrepreneurs who follow this method begin by asking whether a certain product should be created and whether they can construct a sustainable business around it.

Lean Startup methodology also relies on a continual feedback process. Once startups choose and develop a minimum viable product (MVP), they must employ metrics to test its sales efficacy.

Essentially, the Lean Startup places experimentation above the development of an extensive business plan. Because many carefully constructed business plans fail once they meet the reality of the consumer world, the Lean Startup encourages quick testing from hypotheses and creates a business model through interaction with potential customers.

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