How can you use lean start-up methodology tools?

1 Customer Discovery

Customer discovery is the process of finding out who your target customers are, what problems they have, and what solutions they need. It involves conducting interviews, surveys, observations, and experiments to gather qualitative and quantitative data. Customer discovery helps you avoid building something that nobody wants or needs, and instead focus on creating value for your customers.

2 Minimum Viable Product

A minimum viable product (MVP) is a version of your product or service that has the minimum features or functionality required to test your value proposition and get feedback from early adopters. It is not meant to be perfect or complete, but rather to help you learn what works and what doesn't. An MVP can be anything from a landing page, a prototype, a video, or a mock-up, depending on your goals and resources.

3 Build-Measure-Learn Loop

The build-measure-learn loop is the core cycle of lean start-up methodology. It consists of three steps: build an MVP based on your assumptions, measure how customers respond to it, and learn from the results. The loop helps you test your hypotheses, validate your assumptions, and iterate your product or service based on customer feedback. The faster you can go through the loop, the more you can learn and improve.

4 Pivot or Persevere

Pivot or persevere is the decision you have to make after running an experiment or testing an MVP. It means either changing your strategy, product, or market (pivot), or continuing with your current plan (persevere). The decision should be based on the evidence and data you have collected, not on your gut feeling or opinions. Pivoting or persevering helps you avoid wasting time and money on something that is not working, and instead find a better fit for your product or market.

5 Business Model Canvas

A business model canvas is a visual tool that helps you map out the key elements of your business model, such as your value proposition, customer segments, channels, revenue streams, cost structure, and key resources. It is a simple and flexible way to describe, design, and test your business idea. A business model canvas helps you identify and communicate your value proposition, understand your customers and their needs, and explore different ways to generate revenue and reduce costs.

6 Lean Canvas

A lean canvas is a variation of the business model canvas that is more focused on the problem-solution fit and the product-market fit. It replaces some of the elements of the business model canvas with more specific ones, such as the problem, the solution, the unique value proposition, the unfair advantage, and the key metrics. A lean canvas helps you define and validate your problem, solution, and market, and measure your progress and success.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?