The Lean Startup: Difference between revisions
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=== II – Steer ===
🦘 '''5 – Leap.''' Leap‑of‑faith assumptions anchor the initial strategy, and progress starts by naming them explicitly as the value hypothesis (do customers find the product valuable?) and the growth hypothesis (how new customers will discover and adopt it). The chapter opens with Facebook’s early traction—roughly 150,000 registered users, little revenue, yet $500,000 raised in 2004 and $12.7 million less than a year later—showing how real engagement (more than half logging in daily) can validate value while campus‑by‑campus expansion tests growth. Analogies and persuasive decks are demoted; what matters is translating those leaps into testable hypotheses that can be measured quickly inside the Build–Measure–Learn loop. ''The problem with analogies like this is that they obscure the true leap of faith.''
🧫 '''6 – Test.''' Testing begins with a minimum viable product designed to elicit behaviors, not opinions, from early adopters willing to tolerate flaws in exchange for vision. Examples range from concierge setups to smoke tests, with Groupon’s origin story—rebranded from The Point—using a skinned WordPress blog to post daily deals and even sell T‑shirts via email instructions to prove demand before building infrastructure. The aim is speed of learning: ship the smallest thing that can run a full loop, instrument it, and decide the next experiment. ''A minimum viable product (MVP) helps entrepreneurs start the process of learning as quickly as possible.''
📏 '''7 – Measure.''' Measurement shifts to innovation accounting, a discipline for turning leap‑of‑faith assumptions into a quantitative model and tracking progress with learning milestones. Cohort analysis replaces aggregate dashboards, and good metrics follow the three A’s—actionable, accessible, auditable—so teams can see causal effects, share simple people‑based reports, and verify data. The method advances in three steps: establish a baseline with an MVP, tune the engine of growth, then decide whether results justify a pivot or perseverance. ''Innovation accounting enables startups to prove objectively that they are learning how to grow a sustainable business.''
🔄 '''8 – Pivot (or Persevere).''' When optimization stalls, teams convene regular “pivot or persevere” meetings—every few weeks to a few months—to make a deliberate course correction or recommit to the path. Pivots target fundamentals rather than tweaks, taking forms such as zoom‑in or zoom‑out, customer‑segment or customer‑need shifts, channel or value‑capture changes, engine‑of‑growth switches, or technology/platform moves. The choice is grounded in evidence from innovation accounting and cohort trends and resets the baseline for a new round of experiments. ''That change is called a pivot: a structured course correction designed to test a new fundamental hypothesis about the product, strategy, and engine of growth.''
=== III – Accelerate ===
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