Silicon Valley legend Steve Blank explains the Lean Startup by Rick Spence

TL;DR - The lean startup model was developed to help founders employ customer development as a tool to increase the success rate of their business.

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Tags - lean startup, consumer development, minimum viable product

Questions answered:

  • What is the lean startup model?

Summary:

  • Steve Blank notably developed the Lean Startup model, a new set of tools to address the problems that founders face.
  • Lean Startup revolves around the fact that successful startups rely on consumer advice/data.
  • Customer development is crucial to creating a successful business.
  • Eric Ries is another pioneer of the lean startup model; Ries popularized minimum viable product (MVP).
  • The lean startup model guides founders to identify problems/resources before they spend a lot of money.

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