When entrepreneurs set about creating a product, service or business, they commonly make one big mistake: they try to create the entire product first and bring it to market, once it’s finished.
All too often, someone starts a business and 3, 6, even 12 months later, they’re still working on their product – and no one has even seen it yet. Then, once the product is “finished” and released to the market, disappointment strikes. The first version of a product is very rarely a hit.
The lean startup approach is the solution to this problem. Instead of aiming to create a complete product, the goal is to create a minimal version of the product and release it as quickly as possible. The entrepreneur can then gather feedback from the response to this minimal product and improve it from there.