Starting
a new business has always been a hit and miss affair and statistics
show that the majority of small companies fail within the first few
years.
The Lean Startup approach provides a method of starting a company that reduces this risk of failure.
It
does this by advocating experimentation over lengthy planning, asking
for customer feedback over believing in your intuition, and lastly but
most importantly, using iterative design processes that enable constant
improvement over building a big and expensive design before launching
the product.
The diagram on the right shows the contrasts in approach.
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