Oct 28, 2021 : The Lean Startup Methodology
The lean startup methodology is used to develop products and businesses in a short period of time to quickly understand if the business model is viable one.
Using this methodology, it’s possible for early-stage startups to garner success without requiring high amounts of funding, comprehensive business plans, or a product that has no flaws.
There are five principles of Lean Startup Methodology –
✔️ Entrepreneurs are everywhere.
✔️ Entrepreneurship is a management.
✔️ Building sustainable model through validated learning.
✔️ Innovation accounting.
✔️ Build-Measure-Learn loop.
Build – Create MVP with enough feature to test the product in the market.
Measure – Measure the results of MVP while continue to develop the product.
Learn – Learn from data and feedback to make a market ready product.