Summary and Analysis of The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses

startups, utilizing small batches allows problems to be spotted and fixed rapidly.

MVP, the Build-Measure-Learn loop, and innovation accounting, the fit between the product and the market

product based on its interaction with early adopters.

minimum viable product” (MVP), which is the fastest way for entrepreneurs to engage in the Build-Measure-Learn loop.

To attract investors, a startup must be able to offer not only value (a product that customers want), but also the prospect of continued growth (a product that will continue to add value going forward). If a startup can offer an answer to these two hypotheses, that startup can then take a “leap of faith”

here is a standard process that startups should follow: “Build-Measure-Learn.” Ries believes companies should first make a product, see how consumers react to it, and then take action in response. This cycle continues throughout the building of the business.

validated learning” to describe this cycle of testing.

alidated learning” to describe this cycle of testing.

The only way to win is to learn faster than anyone else.”

n MVP must be built very quickly to begin testing that idea. Once there is an MVP, early adopters can provide true, measurable data that can be used to come up with ideas to improve the product, and the loop begins again.