Lean Startup is a methodology for developing new businesses and products with the goal of shortening product development cycles with frequent use of prospective customer contact, learning, and iteration. The Lean Start-up approach is most often used by early-stage startups, but more and more corporate ventures and innovation teams use the approach, tools, and templates to test and validate new business concepts.
What is Lean Startup, and what are best practices, tools and templates for teams and organizations?
Definition of Lean Startup
Description of Lean Startup
Lean Startup as a methodology was first outlined by Eric Ries and popularized by the success of his bestselling book, The Lean Startup. Similar to the concept of lean manufacturing, the Lean Startup methodology stresses the elimination of wasteful spending during the product development phase so that startups can have a better chance of success without requiring large amounts of outside funding.
Customer feedback during product development is integral to the lean startup process, and ensures that the start-up does not invest time designing features or services that customers don’t want.
A Lean Startup does not have a hierarchical management structure, which enables it to react quickly and maintain flexibility. As a result of this, a Lean Startup can create a prototype quickly, get it to market for testing, and make iterative changes along the way based on customer feedback.
Tools & Templates
Specific tools used in Lean Startup methodology often include creating minimum viable products, testing leap-of-faith assumptions, iterating through rapid prototyping, and moving through a discovery-driven planning process using a reverse-income statement.
upBOARD's Online Lean Startup Tools & Templates
upBOARD’s online Lean Startup collaboration tools allow any team or organization to instantly begin working with our web templates and input forms. Our digital platform goes far beyond other software tools by including progress dashboards, data integration from existing documents or other SaaS software, elegant intuitive designs, and full access on any desktop or mobile device.
Learn more about upBOARD’s library of other innovation management online best practice tools and templates, including:
Agile Innovation Process, Business Case Development, Business Model Canvas, Concept Development, Concept Screening, Concept Testing, Customer Empathy Map, Customer Problem Statements, Design Thinking, Innovation Funnel Management Process, Innovation Horizons Model, Innovation Roadmap, Jobs to be Done, Lean Startup, Listening Hats, Open Innovation Process, Painstorming, Rapid Prototyping, SCAMPER, S-Curve Mapping, Stage Gate Process, Technology Life Cycle, Technology Scouting, and Teece’s Win-Lose Innovation Model.