Why the Lean Start-Up Changes Everything

The "lean start-up" methodology has gained strong momentum in recent years with companies big and small who are launching new products or entering new markets. This HBR article by Steve Blank does a great job of explaining the basic concepts.

The "lean" approach turns traditional business planning on its head - favoring the principles of failing fast and continual learning, over traditional "big design up front" development. Concepts such as "minimum viable product" and "pivoting" have dramatically lowered the risk and increased the odds of new-venture success in companies of all sizes.

The HBR article introduces a key framework called the Business Model Canvas that results in a diagram of how a company creates value for itself and its customers. Getting the Business Model Canvas right, along with its supporting Value Proposition Canvas, is validated with sponsor clients and strategic partners - an essential step before heavy investments in development, sales and marketing begin.