Definition of ‘Lean Startup Methodology’
Lean startup methodology is a process of applying lean management principles to a startup business to shorten their product development times. The basic idea is to create more value for customers using fewer resources in order to minimize waste.
Although the lean startup methodology can be applied to any startup business, it is popular among software development businesses where it is applied by rapidly releasing a minimum viable product on to the market to test customer reaction, and then using the feedback from early adopters to adapt and improve the product. In this way the product is launched quickly and inexpensively in a series of small steps helping to minimize the risks of product development.
For further information see the Wikipedia lean startup methodology definition.
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