The_Lean_STARTUP

What is the purpose of "The Lean Startup" methodology?

• To maximize investment opportunities for startups

• To create a scientific approach to creating and managing startups

• To increase the number of startups in the market

What is a Minimum Viable Product (MVP)?

• A product that has all the features requested by customers

• The final version of a product

• The version of a product that allows a team to collect the maximum amount of validated learning about customers with the least effort

• The cheapest version of a product that can be produced

What is validated learning?

• The process of designing products that meet customers' needs

• The process of collecting feedback from customers

• The process of demonstrating empirically that a team has discovered valuable truths about a startup's present and future business prospects

• The process of developing a product that meets a team's assumptions

What is the Build-Measure-Learn feedback loop?

• A loop that enables startups to measure how customers respond, build products based on that data, and learn from the results

• A loop that enables startups to learn from their competitors and build products based on that knowledge

• A loop that enables startups to develop products, measure how customers respond, and learn from that feedback to iterate and improve their products

Why is innovation important for startups?

• Innovation is the only way to attract investors

• Innovation is the only way to make a profit

• Innovation is the lifeblood of any company and the only insurance against irrelevance

• Innovation is the only way to create products that meet customer needs

What are some techniques for generating new ideas and testing them quickly?

• Brainstorming, prototyping, and user testing

• Brainstorming, research, and focus groups

What is the purpose of a startup's MVP?

• To create a final version of a product

• To test assumptions and hypotheses, validate product-market fit, and gather feedback from customers with the minimum possible investment

• To create a product that has all the features requested by customers

• To create a product that meets the team's assumptions

Why is the process of validated learning critical to startup success?

• It enables startups to pivot quickly and avoid wasting resources on products that don't meet customer needs

• It ensures that startups are meeting their revenue goals

• It guarantees that startups will be successful in the long-term

• It provides a process for startups to create and launch products quickly

What is the focus of the Lean Startup methodology?

• Creating products and services that solve real problems for real customers

• Building products that are cheaper than competitors' products

• Maximizing profits for investors

• Launching as many products as possible

What KPI stands for?

• Key Productive Index

• Key Performance Index

• Key Performance Indicator