The Lean Startup Flashcards
1
Q
What is the name of the main mechanism in a Lean Startup, and how does it work?
A
Build-Measure-Learn feedback loop. Idea –> BUILD –> Product –> MEASURE –> Data –> LEARN –> Ideas
2
Q
What is Validated Learning?
A
A method for demonstrating progress when one is embedded in the soil of extreme uncertainty.
3
Q
Why are early adopters so important?
A
They are the customers who feel the need for the product most acutely
4
Q
What is Runway?
A
It is defined as the remaining cash in the bank divided by the monthly burn rate.
5
Q
What is the Churn Rate?
A
The fraction of customers in any period who fail to remain engaged with the company’s product
