Lean Startup - Am I doing it right?

One question I get all the time is how to do "The Lean Startup" right, so I thought I'd take a minute and share the canonical answer.

The shortest 5 step description I can give goes as follows:

1. Articulate your hypotheses (guesses about the unknowns) using the Business Model Canvas (BMC).
2. Get out of the building and test these hypotheses using Customer Development.
3. Validate learnings by building Minimum Viable Products and getting them in front of customers.
4. Iterate (small variation, no real change in BMC) or Pivot (something changed in the BMC) as needed.
5. Build - Measure - Learn (aka rinse, lather, repeat - because this is an iterative process, and yes you have to get out of the building more than once)

Now the hard part is creating a product people love - not getting the the Lean Startup methodology right.

To learn more in-depth about the Lean Startup and how to do it right, I recommend taking the canonical free course " How to Build a Startup" from the father of the movement himself, Steve Blank.