Have you ever heard about the Lean Startup? It can boil down to one sentence: “Don’t sell what you can make; make what you can sell”.
In the beginning, all startups search for the right product and market and face the same problem: they have no idea what people really want. Surprisingly, people don’t know themselves. And if you ask them – they tell you what they think you want to hear.
Apparently, the traditional waterfall approach doesn’t work any longer. The hope – you build something and customers will come – is completely wrong. You build something, nobody likes it, then you burn all your money and go looking for a regular job.
Lean Startup has many great ideas and today I tell you about two of them.
The first idea is Customer Development. It’s all about collecting feedback from your customer continuously – and acting upon it.
The second idea is the “Build → Measure → Learn” cycle. It works closely with the customer development and gives you the “reality check” how your startup is doing. Ideally, your business should iterate through this cycle as quickly as possible.
As a result, in each iteration you go step closer to the right combination of the product and market. Finally, you iteratively eliminate waste and learn to move fast.