BU398 Lecture Notes - Lecture 2: Lean Startup, Business Model Canvas, Operations Management
Document Summary
Christian introduced the lean start-up methodology, the logic behind it and several tools. *lean start up essentials: least possible costs and reduce necessary processes, minimize ime-to-market, earliest possible involvement of customers. 5 principles of the lean start up: entrepreneurs are everywhere, entrepreneurship is management, *validated learning (tesing and idea and using the results to validate your own learning experiences) Innovaion accouning (a new kind of accouning speciic to new lean start ups) 4: *build-measure-learn (a lean start up accelerates the feedback loop) Business model canvas adjusted for the lean start up: The lean canvas: problem, customer segments, usp, soluion, key aciviies and relaionships, channels of markeing and distribuion, cost structure, revenue streams, *unfair advantage (a compeiive advantage that cannot be copied) *lean start up = hypothesis driven entrepreneurship: product hypothesis, customer hypothesis, channel/pricing hypothesis, demand creaion hypothesis, market hypothesis, compeiion hypothesis. *build build your irst product in the shiiest way possible.
