Lean startup is a methodology for product development that emphasizes experimentation and iteration over traditional planning. It was popularized by Eric Ries in his book The Lean Startup.
The core idea of lean startup is to build a minimum viable product (MVP) as quickly as possible and then get it in front of customers to get feedback. This feedback is then used to iterate on the product and make it better.
The lean startup process can be broken down into the following steps:
- Build a hypothesis. The first step is to come up with a hypothesis about what your product is and who your customers are. This hypothesis should be based on your research and understanding of the market.
- Build a minimum viable product (MVP). The MVP is the simplest version of your product that can still be used by customers. It should only have the features that are absolutely necessary to test your hypothesis.
- Get feedback from customers. Once you have an MVP, you need to get it in front of customers and get their feedback. This feedback will help you to understand if your hypothesis is correct and if there are any changes that need to be made to the product.
- Iterate on the product. Based on the feedback you receive from customers, you need to iterate on the product and make it better. This may involve adding new features, removing features, or changing the way the product works.
- Repeat the process. The lean startup process is iterative, so you need to repeat the steps above until you have a product that is successful in the market.
As a product manager, you can use the lean startup methodology to help you develop products that are more likely to be successful. By following the lean startup process, you can avoid wasting time and resources on products that are not meeting the needs of your customers.
Here are some specific ways that product managers can use lean startup:
- Conduct customer interviews and surveys to gather feedback. This is essential for understanding your customers' needs and wants.
- Build and test MVPs quickly and cheaply. This will help you to validate your hypotheses and make sure that you are building the right product.
- Use metrics to track progress and measure success. This will help you to make informed decisions about how to iterate on your product.
- Be flexible and adaptable. The market is constantly changing, so you need to be able to change your product accordingly.
