The Lean Startup

Startups need a specially designed form of management to cater to their very particular needs as fledgling companies.

Validated learning is the process by which employees can measure their output and success through experiential lessons. The more validated learning achieved, the more successful a startup can become.

The Build-Measure-Learn feedback loop is the steering mechanism by which a startup can drive toward its end goal.

Innovation accounting informs the Build-Measure-Learn feedback loop that gives startups the information needed to decide when to persevere and when to pivot without being reactionary.

The ability to know when to continue on a path or to change direction is vital to the future of a startup.

Lean startup entrepreneurs cannot rely on hunches or assumptions. They must get out there and see what’s happening for themselves.

A lean startup employs a small-batch approach. Before embarking on a lengthy journey toward product development, the company leaders first test out smaller iterations to be sure that what they are creating is valuable.

Growth is sustainable when new customers are acquired from the actions of previous customers.

Speed is a life-or-death necessity for a startup, but quality should not be sacrificed in a bid to accelerate.

Intrapreneurs—entrepreneurs tasked with creating new products or ventures within an existing corporation—should also use the lean startup method.