Lean Start-Up Flashcards
Summarise the life cycle of Lean Start-Up
- Leap of faith (Choose to build MVP not wait to end of project to handover)
- What makes a successful product?
- Build MVP (Prototype)
- Offer to early Adopters
- Measure success by validated learning
- Hypothesise & experiment to improve product
- Measure success by validated learning
-7a. If successful put into mainstream
-7b. If not hypothesise & experiment again
Or pivot and try a new leap of faith
What are the concepts/priorities of Lean Start-Up?
1.) Core Concepts:
• Build, measure learn (Ready, Fire, Aim)
• Create a minimum viable product
• Fail Fast
• Validated Learning
2.) Focuses on uncertainty, learning and handling change
3.) Refers to “Shortening or accelerating the feedback loop”
4.) Learning needs to be measurable
What is an MVP?
• Minimum Viable Product
• Something built to enable max validated learning in the shortest possible time/effort
• What’s fit for purpose to be presented to the customer at a given stage
• May not go into operational use
• Maybe an expirement
• Releasing frequently may help with metrics
What are Testers of MVPs called?
Early Adopters
Beta Testers
User Acceptor Testers
Focus Groups
In Lean Start-Up what is it to “Pivot”?
• There has been stall on growth/major unexpected issue
• Significant change in direction
• Requires a new leap of faith
• Must be consumer centric and listening to the feedback
In Lean Start-Up, what happens when a work package has been completed and ready to be put into operational use
• Work Package ticked off
• Sent to Senior User to be allocated to User Resource for feedback
What are the two instances in which the PB needs to check CBJ?
- PM raises an exeption
- Every Stage Boundary
- In Lean Start-Up, continuous customer feedback allows CBJ to be assessed