What is Lean Startup methodology?
The Lean Startup methodology is based on fundamental ideas from Steve Blank and popularised by Eric Ries via his book and the movement of the same name. The book “The Lean Startup” by Eric Ries provides a general, research-based approach to how start-up companies are created and run and how to get products out to customers more quickly. It is all about how businesses are run, handled, developed and grown at maximum speed under extremely uncertain circumstances. This is a new type of approach to new product development.
Opportunities when using Lean Startup methodology
Lean Startup has become a movement which no longer includes just start-up companies, but has spread to all types of product development and all types of company, as well as major, established companies. Companies can either be run as Lean Startups, popular among your start-up companies, or else they can pick out various practices and introduce them gradually. Popular practices include Build-Measure-Learn as a continuous data-driven feedback loop based on experimentation, Minimum Viable Product (MVP) – which involves starting testing/experimenting with ideas as quickly as possible – and the Pivot/Persevere approach.
Lean Startup methodology and Compello
The Lean Startup methodology is used at Compello, and Compello has used Approve.ly as a pure Lean Startup, releasing an MVP to Google Play and the AppStore to start experimentation at an early stage. A number of pivots based on metrics from experiments that have taken place have been executed along the way. Compello has backed the Kickstarter campaign leading to Eric Ries’ second book, The Leader’s Guide, and has participated in exclusive backer workshops in California. Experience gained with Approve.ly is being transferred gradually to general product development throughout the rest of Compello.
Relevant terms to Lean Startup methodology : Minimum Viable Product (MVP)