What does "lean startup" mean?

The concept of "lean startup" refers to an approach that emphasizes rapid experimentation and validated learning in order to efficiently build and scale a business. It encourages entrepreneurs to develop their product or service ideas quickly while seeking real feedback from potential customers as early as possible. This iterative process allows businesses to make informed decisions about product features and market demands, minimizing the risk of large investments in untested ideas.

By focusing on quickly validating ideas, entrepreneurs can pivot or adapt their business models based on actual customer responses, leading to more successful outcomes. This methodology significantly contrasts with traditional business models that may involve extensive upfront investment without confirmation of market fit.