Process: Lean Startup Methodology
Current product development processes follow a plan and execute model. Detailed plans must be prepared for the projects to receive funding and performance is measured in terms of time and budget. Further, the resources required for planning and tracking limit the number of projects and increase the overall risk of failure.
First, we replace the process of Continuous Innovation with the Lean Startup process of Build, Measure Learn.
Next, Business Models (Lean Canvases and Traction Roadmaps), that require less resources, replace detailed plans to maximize number of projects.
Then, the process of Problem/Solution Fit is used to prioritize and Lean Sprints (experiments) to validate Business Models, evolving the Business Model/Product towards Product/Market Fit.
"Our success at Amazon is a function of how many experiemts we do per year, per month, per week, per day"
- Jeff Bezos
This is a shift from the traditional focus on Solutions to focusing on the Problem where solutions are documented and communicated with the Business Model, which systematically evolves from an Idea to the Product.
Benefits of Lean Startup Continuous Innovation
- Minimize resources & maximize projects
- Identify your customers most important problems
- Develop the most effective solutions to customer problems
- Minimize product risk
- Achieve Product/Market Fit