The Lean Startup Method Is Not About

In A Startup, Both The Problem And Solution Are Unknown.

There Was A Study Done In The Early 20th Century Of All The Entrepreneurs Who Entered The Automobile Industry Around The Same Time As Henry Ford; There Were Something Like 500 Automotive Companies That Got Funded, Had The Internal Combustion Engine, Had The Technology, And Had The Vision. Sixty Percent Of Them Folded Within A Couple Of Years.

What Differentiates The Success Stories From The Failures Is That The Successful Entrepreneurs Had The Foresight, The Ability, And The Tools To Discover Which Parts Of Their Plans Were Working Brilliantly And Which Were Misguided, And Adapt Their Strategies Accordingly.

The Minimum Viable Product Is That Version Of A New Product Which Allows A Team To Collect The Maximum Amount Of Validated Learning About Customers With The Least Effort.

Leadership Requires Creating Conditions That Enable Employees To Do The Kinds Of Experimentation That Entrepreneurship Requires.