BA 260 Lecture Notes - Lecture 2: Minimum Viable Product, Lean Startup, Business Model Canvas

• School: Oregon State University
• Department: Business Administration
• Course: BA 260
• Professor: Sanjai Tripathi

Document Summary

5 year plans are generally useless in the face of uncertainty. Long time developing product with no customer feedback. Start-ups are not small versions of big companies, you search for a model, you do not execute one. Business model canvas: write down hypotheses to test. Customer development: test hypotheses by talking to customers. Create minimum viable product that includes only the necessary features to try on customers. Agile product development: use short repeated cycles. Get feedback, rework product, and then get more feedback. Lean execution: ramp up but keep adapting. A business model describes the rationale of how a company creates, delivers, and captures value: It"s a holistic view, but often expressed in specific financial terms: About what the successful business will look like in its totality. What is technically and organisationally feasible? (feasibility) Once you have established assumptions: get out of the building . In other words, learn by talking to people.