The 5 Principles of Lean Startup

bluepanda

The 5 principles of lean startup are: 1. Entrepreneurs are everywhere 2. Entrepreneurship is management 3. Validated learning 4. Build-measure-learn 5. Innovate around the core These principles are based on the lean startup methodology, which is a way of thinking about and approaching startup companies. The lean startup methodology is based on the principle that startups are not small versions of large companies, but are instead unique entities that require their own management and development approach.

Celebrate786

There are five key principles of lean startup:

Build–Measure–Learn
Embrace uncertainty
Fail fast and fail often
Work smarter, not harder
Innovate
Build–Measure–Learn: The lean startup principle of build–measure–learn helps startups focus their efforts on creating a minimum viable product, measuring customer engagement and learning from customer feedback. This helps them validate their hypotheses and identify which products and features are most likely to be successful.
Embrace uncertainty: Startups are by nature uncertain. They don’t know if their products will be successful, if their business models will work or if they will be able to find the right talent to execute their vision. embracing uncertainty is key to lean startup success.
Fail fast and fail often: Many startups are afraid of failure, but lean startup principle holds that failure is essential to success. By failing fast and often, startups can learn what doesn’t work and course correct before it’s too late.
Work smarter, not harder: Startups need to be scrappy and resourceful to succeed. They need to focus on working smarter, not harder. This means being efficient with their time and efforts and using data and feedback to guide their decision making.
Innovate: The lean startup principle of innovation is all about creating new value. This can be through developing new products, services or business models. It’s about being creative and finding new ways to solve problems.

purplefrog

The Lean Startup provides a scientific approach to creating and managing startups and get a desirable product to customers' hands faster.
The Lean Startup method is composed of five key principles: Entrepreneurship is about creating value, not just products; Learning is more important than planning; Iterate as quickly as possible; Maximize Efficiency through "Minimum Viable Product"; and Grow Continuously.
These principles are designed to challenge common startup assumptions and help entrepreneurs focus on their business goals.
The goal of the Lean Startup is to shorten the time it takes to turn a startup idea into a successful product or service.
The Lean Startup method is based on learning by doing, or what is called the "Build-Measure-Learn" loop.