Summary | The Lean Startup Quotes

“Also, for every startup to succeed, a validation of two types of hypotheses is crucial: Value hypothesis, which explains whether a product or a service will deliver value to customers Growth hypothesis, which determines how a product or a service will spread and grow But for an experiment to be successful, there are three steps which need to be followed. Preparation is the first step. During the preparation process, a startup should articulate its value and growth hypothesis. Know that if a failure is not an option, then it is not an experiment. The second thing to do is test. Tests should be created and run as quickly and cheaply as possible. The third and the final thing to do before doing an experiment is measure. By measuring, the author means the collection of both data and customer feedback. After doing this, we will be able to see if the results make the hypothesis valid or invalid.”
― Rapid-Summary, Summary | The Lean Startup: By Eric Ries - How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses