Running Lean: Iterate from Plan A to a Plan That Works (Lean (O'Reilly))

by Ash Maurya

Here is how you view them based on risks: Product risk: Getting the product right First make sure you have a problem worth solving. Then define the smallest possible solution (MVP). Build and validate your MVP at small scale (demonstrate UVP). Then verify it at large scale. Customer risk: Building a path to customers First identify who has the pain. Then narrow this down to early adopters who really want your product now. It’s OK to start with outbound channels. But gradually build/develop scalable inbound channels — the earlier the better. Market risk: Building a viable business Identify competition through existing alternatives and pick a price for your solution. Test pricing first by measuring what customers say (verbal commitments). Then test pricing by what customers do. Optimize your cost structure to make the business model work.

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