Growth Case Studies
What Is the Lean Startup?
The Lean Startup methodology is founded on the simple idea of cutting one’s losses. The approach prioritises failing as quickly and cheaply as possible rather than burning money and time on unprofitable ideas.
Radical but focused, the Lean Startup facilitates continuous innovation via an iterative process where the product undergoes constant development and refinement based on actual market feedback.
Why Is the Lean Startup Important for Business?
According to fortune.com, a staggering 9 out of 10 startups fail, with the top reason being that “they make products no one wants”. But why would any business spend time and money on a product that’s not in demand?
The truth is that it’s easy to make assumptions about market demand, but putting that assumption to test takes courage. Many businesses get derailed by wanting to have the perfect product before releasing it, which results in them getting market feedback too late.
The Lean Startup takes a bold but pragmatic approach that pushes businesses to go to market with a minimum viable product (MVP), fail fast, learn, refine the product, rinse and repeat.
Benefits With Our Service:
What Our Clients Say:
Dr. Diana Rigola
Paul Markovits
Georges Caron
Frequently asked question:
The only prerequisite to being an entrepreneur is to think big, start small, and scale fast.
2. Entrepreneurship is management
A startup needs to be flexible and agile, but it also requires effective management and accountability.
3. Validated Learning
The ultimate goal of a startup is to learn to build a sustainable business. This requires scientific validation of experiments to test each element of one’s vision and finetune the product or service based on actual market feedback.
4. Innovation Accounting
Accountability is key to improving entrepreneurial outcomes. This involves setting clear priorities, measuring progress, and creating milestones to track achievements.
5. Build-Measure-Learn
The core focus of the Lean Startup model is to turn ideas into products, measure customers’ responses, use the feedback to decide whether to pivot or persevere, AND accelerate this feedback loop.