The Lean Startup in a Nutshell

Every founder has heard of The Lean Startup, creating an MVP, and applying the scientific method to their company.

The goal is “to figure out [empirically] the right thing to build—the thing [real] customers want [not what they say they want] and will pay for [and why]—as quickly as possible.”

Identify and test your leap-of-faith assumptions to validate success or failure early on.

DATA comes 1st!

Test your key assumptions in a time and cost efficient way.

LEARN through setting a hypothesis, and validating via split testing, targeted customer interviews (with 5 why’s and open-ended questions), and a pre-MVP.


Don’t worry about competitors stealing your idea.

If you are that easy to copy, you’re doomed anyway ;).

Continue to outlearn the competition.

PIVOT as needed:

Zoom-in: feature becomes whole product

Zoom-out: whole product becomes single feature

Customer segment: solve problem for a different customer

Customer need: discover a related problem you can solve

Platform: change from product to platform

Business architecture: change from high margin, low volume to low margin, high volume or vice versa

Engine of growth: (1) sticky (2) paid (3) viral

AND/OR revenue model, customer channel, technology, etc.

Lucas Miller, co-creator.

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