There are many buzz-words in marketing, one expression that you may have heard of is Lean Startup or Lean-thinking. But what does it really mean?
To better understand it we have to know what defines a Startup. A startup is a new company where the business model is scalable. It usually has elements of tech, innovation and is a new kind of product or service. Start-ups are searching and has elements of uncertainty in the business model.
Lean means what is sounds like, slimmed, where you take away everything that is not necessary. It is about maximizing customer value in an as efficient way as possible.
A popular way to use the Lean Startup model is by applying the Build – Measure – Learn model.
In the model above Try means building a lean version of the idea, then you move on to measure the fall out, and analyze the data. Learn from the results. Continue with the thing that works.
I’m currently reading The Lean Startup by Eric Ries to learn more about the concept. He has some great examples in the book to explain it further.
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