## Definition of Lean Startup The Lean Startup is a methodology and [[Product Framework]] that aims to help entrepreneurs and product managers create successful products by minimizing waste and maximizing customer feedback. This approach emphasizes the importance of validating assumptions and testing hypotheses early and often, in order to reduce the risk of failure and create products that customers actually want. ![[Pasted image 20230324125308.png]] ## Lean Startup Main Principles In the context of product management, the Lean Startup approach involves several key principles, including: ### Cross-functional, small, dedicated, co-located Teams Work in teams with varied skill sets, don't just stay in a little designer huddle. Keep the team small. 7 (+/-2). Anti-pattern rockstars, gurus and ninjas. ### Build-Measure-Learn This is the core feedback loop of the Lean Startup methodology. It involves building a Minimum Viable Product (MVP) as quickly as possible, measuring its effectiveness through customer feedback, and using that feedback to improve the product in subsequent iterations. ### Customer Development This principle emphasizes the need to understand your [[customers needs]] and preferences before building a product. By talking to customers early and often, you can validate your assumptions and ensure that you're building something people actually want. ### Continuous discovery Keep engaging with youl customers Check in every 2 or 3 weeks. ### 3. Rapid Prototyping In order to build a quickly, product managers may need to use rapid prototyping techniques, such as wireframing, mockups, or prototypes. These tools can help you test your assumptions and get feedback from customers more quickly. ### Removing waste Remove any work that doesn't get you closer to your business outcome. ### Learning over growth Share what you know, learn anc grow together as a team. Make the right thing first, then go tor scole. Experiment and take [[Product Risks]]. ### 4. Data-Driven Decision Making The Lean Startup approach emphasizes the importance of using data to make decisions, rather than relying on intuition or assumptions. By tracking key [[product metrics]] and analyzing [[customer feedback]], you can make informed decisions about how to improve your product. ### 5. Pivot or Persevere This principle encourages product managers to be flexible and responsive to feedback. If the data suggests that your product is not meeting customers' needs, you may need to pivot (change direction) in order to succeed. By focusing on customer feedback, minimizing waste, and being willing to pivot when necessary, product managers can increase their chances of success and build products that truly resonate with their [[Target Audience]].