Lean Start-up Methodology
Lean Start-up is a methodology for developing businesses and products. The methodology aims to shorten product development cycles by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and validated learning.
Build – Measure – Learn Feedback Loop
Once product market fit has been achieved the purpose of teams in country is to effectively build a sustainable business model with limited resources by using the lean start-up method. Teams build and carry out tests which prove/disprove every assumption placed within their Business Model Canvas (BMC). This firstly starts with the Minimum Viable Product (MVP) which was the result of the Design Thinking Process and confirmed product market fit. As a result of testing, measuring and learning through a disciplined approach the team will either Pivot or iterate on their existing business model. A Pivot involves a keeping one foot firmly in place as you shift the other in a new direction. In this way, the team process what they have already learned from past success and failure and apply these insights in new areas. Iteration involves bringing the desired result closer to discovery with each business interaction by learning and adapting within the original strategy.
A Project Everest venture continues to use Lean principles as it moves into the next stage, however, the purpose at this point is to prove out the business model ready for the commencement of scaling operations and thus social impact.