FOUNTAIN FOUNDATION
LEAN STARTUP
What is Lean Startup
What’s a Startup? “A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty” The products a startup builds are really experiments; the learning about how to build a sustainable business is the outcome of those experiments
Principles
Lean Startup Principles Entrepreneurs are everywhere Entrepreneurship is management Validated Learning Build-Measure-Learn Innovation Accounting
Prototyping
A prototype is an early sample, model, or release of a product built to test a concept or process or to act as a thing to be replicated or learned from. ... In some design workflow models, creating a prototype (a process sometimes called materialization) is the step between the formalization and the evaluation of an idea.
Lean Startup Model
Lean Startup Model • The Lean Startup provides a scientific approach to creating and managing startups and get the desired product to customers' hands faster. The Lean Startup method teaches how to drive a startup-how to steer, when to turn, and when to persevere and grow a business with maximum acceleration. It is a principled approach to new product development.
Step by Step
1. Idea generation
2. Market survey
3. Identify customer segment
4. Create prototype MVP
5. Generate pitch
6. Test and Validate
7. Pivoting
8. Adjusting
9. Selling and generating profit
10. Keeping the books
11. Continued M&E
Different types
Are all Startups the same? Lifestyle Startups Work to live their passion Small business Startup Work to fee the family Funded from savings Barely profitable Not designed for scale Scalable Startup Born to be big Founders have a vision Require risk capital Buyable startup Acquisition targets Social Startup Driven to make a difference Large- company Startup Innovate or Evaporate
Pivoting
A Pivot is a structural course correction to test a new fundamental hypothesis about the product, strategy and engine of growth. It is not a failure!
