Lean Startup

A methodology for developing businesses and products that emphasises rapid experimentation, validated learning, and iterative product releases to shorten development cycles and determine whether a proposed business model is viable. Introduced by Eric Ries, lean startup principles include building minimum viable products (MVPs), measuring customer response through actionable metrics, learning from results, and pivoting or persevering based on validated learning. The approach reduces wasted time and resources on building products nobody wants by testing assumptions early and cheaply. Lean startup methodology has influenced entrepreneurship globally, particularly in tech startups, though principles apply to businesses of all types.

Why it matters

Lean startup thinking prevents the most common business failure: building something nobody wants. Testing assumptions quickly and cheaply with MVPs dramatically reduces risk and accelerates finding product-market fit before major investment.