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The Lean Jargon

Recently, I finished reading Eric Ries's "The Lean Startup". This book revolutionizes the way business startups are built and operated. It proposes  a novel methodology for ensuring startup success. The concept of lean is really easy and of must-adapt kind for modern businessmen.

To leaf you through the lean methodology,I have briefly explained the lean jargon below :

MVP Stands for Minimum Viable Product. Its simply a early-bird prototype of the product under development.  MVP demonstrates the basic functionality or feature of product. It can be a  small running tool with 1/2 features, a power point presentation or a product theme animation video. MVPs can be built in very less time and can really help founders to get the customer feedback in early phases of product development. This helps founders to validate the product idea against what customers actually needs.
Build-Measure-Learn Loop

Leap of faith
Leap of faith is basically a set of assumptions that entrepreneurs make in their early days, which if true may create a big market opportunity and if false may lead to startup failure.

Customer Archetype
This is a brief document which seeks to humanize the proposed targeted customer. 


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