THE LEAN STARTUP MODEL EMPLOYS VALIDATED LEARNING TO EMPRICALLY EXHIBIT VALUABLE TRUTHS ABOUT A STARTUP’S CURRENT AND FUTURE BUSINESS PROSPECTS.

THE LEAN STARTUP MODEL EMPLOYS VALIDATED LEARNING TO EMPIRICALLY EXHIBIT VALUABLE TRUTHS ABOUT A STARTUP’S CURRENT AND FUTURE BUSINESS PROSPECTS.

An entrepreneur strives to create a new product or business under conditions of extreme uncertainty.

A Startup, an organisation or company established to create a new product or service under extreme uncertainty, is promoted by an entrepreneur.

A new business, a mirror of an existing concern in terms of business model, pricing, target customer and product, is not a Startup because its success depends only on implementation and can be predicted with a high degree of accuracy.

An organisation sustains its growth through Sustaining Innovation, creating incremental improvements to existing products and services, and Disruptive Innovation, creating breakthrough new products.

It is the duty of the organisational leadership to create an environment conducive to experimentation that would enable entrepreneurs to learn and to eventually match their products to market conditions. Experimentation identifies which elements of the strategy are working for the actualization of the entrepreneurial vision and which are counterproductive. It reveals what customers really want and whether the current path of the organisation is aligned to building a sustainable business or not.

The Lean Startup model employs Validated Learning, a strict process of demonstrating with empirical data valuable truths about a Startup’s current and future business prospects.

The classic questions that a Startup poses to itself are as follows: what product should we build and for whom? What market is open for domination? How can we build and sustain durable value that is ahead of the competition?

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