The Startup Way: How Modern Companies Use Entrepreneurial Management to Transform Culture and Drive Long-Term Growth

by Eric Ries

HOW THE LEAN STARTUP WORKS Here is an overview of the basics of the Lean Startup method. We’ll get into each one, and each specialized term, in greater detail. Identify the beliefs about what must be true in order for the startup to succeed. We call these leap-of-faith assumptions. Create an experiment to test those assumptions as quickly and inexpensively as possible. We call this initial effort a minimum viable product. Think like a scientist. Treat each experiment as an opportunity to learn what’s working and what’s not. We call this “unit of progress” for startups validated learning. Take the learning from each experiment and start the loop over again. This cycle of iteration is called the build-measure-learn feedback loop. On a regular schedule (cadence), make a decision about whether to make a change in strategy (pivot) or stay the course (persevere).