The Lean Startup Explained In One Minute

Lean.

MVP.

Pivot.

These terms get thrown around so much in tech, it’s easy to poke fun at them. Or for their meaning to get lost.

Before reading The Lean Startup, I thought the core idea of the book was:

If you want to build a startup, begin with the smallest version of your product. Release it as soon as possible so that you can validate it with real customers.

That’s partially correct. After reading the book, I learnt it’s actually:

Techniques for managing established companies don’t work when you’re starting from scratch. Here’s a way to quickly see if you can create a sustainable business around your idea without wasting resources.

Being lean is committing resources only when necessary. And validated learning i.e. proven hypotheses about your customers, govern that commitment.

An MVP isn’t a product with the smallest features required to function. But one with enough functionality to gain insights from your customers.

And while it’s critical to think of runway as the amount of time your funding can keep your business afloat. It’s equally important to consider it as how many pivots i.e. unexplored ideas you have left.

When you’re a trailblazer, you don’t have the luxury of tools such as P&L statements to guide you. And that’s where the lean approach comes in. It allows you to define your initial goal as learning as much as possible with the least amount of effort.