The Lean Startup is an approach from Eric Ries. In his book “The Lean Startup”, he talks about his story and his unique way of founding a business. While working in different teams as a product developer, Ries faced a lot of failures. After a while he found a way for startups to grow faster and cheaper.

To follow the Lean Startup philosophy means to launch a product in a phase in which it hasn’t reached the point of complete perfection. By selling a first version of the product and continuously collecting data and feedback from the customers, it is then easier to optimize the product step by step until the point of complete satisfaction is reached.

Instead of wasting months through making assumptions about what the customer wants, it is quicker to bring it to the customer straight away and either fail and start new or find a market and improve

https://www.youtube.com/watch?v=_a3s0IXSuxY

According to Ask Maurya, the author of Running Lean (2012), a startup evolves through three distinct stages. The first stage concerns the Problem/Solution fit which this lesson will focus on. To learn more about problem/market fit and scaling click on the image below.

During the first stage your primary focus is to align your solution with the problem your startup idea is trying to address. The crucial question you need to be able to answer is: Do I have a problem worth solving?

Maurya says a problem worth solving boils down to three fundamental questions:

Q1) Is it something customers want?

Q2) Will they pay for it? And if not, who will?

Q3) Can it be solved?

Click on the hotspots to find out more about each question.

Get together in a team of two to three people (ideally) and run your first experiments to answer the above questions.