On November 29th, the consultant Carlos Morales spoke to us about Lean Startup. This is a short review of what we learnt:
What is Lean Startup and where does it come from?
Lean Startup is a method for developing products and business. It uses scientific principles to shorten product development cycles and get feedback from the market as soon as posible.
How does Lean Startup work?
It is based in creating a feedback loop with three concepts: build, measure, learn.
The first product that you build is the Minimum Viable Product (MVP), that is a basic version of a product that serves for the desired purpose but in it simplest and easiest way. It is a way of finding out early if we are on the right path.
Then you take it to the market and test the MPV with it some hypothesis. These is an example of an hypothesis that you can measure: Is my product presenting a solution for the target group that I defined?.
After testing the product you will get some conclusions and that is when you learn. This learning will most likely make you pivot or persevere at the different stages of the product or service development, and the is how you learn.
What does pivoting imply? To start over with the feedback loop again, to test another hypothesis most likely with an improved version of your product (or with a different target, for example) and to learn again.
He showed us two videos of the same product in its early stages and after iterating many times. These are the vídeos, see if you can find a difference:
What to know more?
You can download the presentation of this seminar under: www.carlosmorales.de/iwibd – Password: IWIBDLean
If you found this article interesting please comment below and if you want to learn more about Lean Startup you can contact Carlos Morales and ask for his help.
Written by Amaia Izar de la Fuente