Lean startup (EN)

Question 1

Controlled use of resources

Answer 1

Use every resource efficiently and effectively.

Question 2

Entrepreneurs are everywhere

Answer 2

Everyone in the world is an entrepreneur.

Question 3

Entrepreneurship is management

Answer 3

Don’t confuse the products and the organisation.

Question 4

Validated learning

Answer 4

A startup does not exist only to build products for the customers or to make money.

It exists only when the management learns how to build a sustainable business.

The learning can be validated through statistic measures by running experiments that test the startups’ vision.

Question 5

Innovation accounting

Answer 5

A startup must focus on the following to improve outcomes and also hold every entrepreneur accountable:
• How can progress be measured
• How can milestones be set
• How can work be prioritized

Question 6

Build-measure-learn

Answer 6

Every startup looks for ways to convert its ideas into a product or service and measure how its customers receive that product or service. When they understand the response, they will understand whether they need to pivot or persevere.

Question 7

Minimum Viable Product

Answer 7

For the first version, minimize effort and development time, in order to test 1 hypothesis

Question 8

Persevere or Pivot?

Answer 8

One of the hardest aspects of the lean startup method is to make the decision to pivot since every entrepreneur and founder is emotionally attached to the product they have created. They spend a lot of money and energy to get to where they are. If a team uses vanity metrics to test its products and hypothesis, it can go down the wrong path.

Question 9

Small batches

Answer 9

• don’t confuse individual performance with system performance
• spot errors immediately
• continuous improvement
• diversity of offerings: mass-customization

Question 10

Andon cord

Answer 10

Address defects immediately. This is necessary to maintain high quality

Question 11

Continuous deployment

Answer 11

Update production systems regularly

Question 12

Kanban

Answer 12

• backlog
• in progress
• built
• validated

No more than 2 tasks per bucket at a given time

Question 13

Five Whys

Answer 13

Go to the root cause of every problem. The goal is not to blame people but to identify bad processes.

Question 14

Five whys - good practices

Answer 14

1. Mutual empowerment’s and trust
2. Focus on the system
3. Accept unpleasant truths.
4. Start small and be specific
5. Appoint a master of Five Why’s, to ensure things get done

Question 15

Experiment

Answer 15

Test before you launch.

Question 16

Growth engines

Answer 16

• SEA - paid acquisition
• Virality - organic growth
• repeat sale and up selling

Question 17

Continuous learning

Answer 17

• employee development
• customer development - evolving products
• learn from mistakes and negative feedbacks

Question 18

UVP

Answer 18

Unique Value Proposition:

Why you are different and worth getting attention