The Lean Startup Approach: Build, Measure, Learn | Luxembourg

Steve Glange · 2025-07-31T07:43:02.019719Z

Popularised by Eric Ries, the Lean Startup methodology is built on continuous iteration and validated learning.Minimum Viable Product (MVP): This is the simplest version of your product or service that allows you to gather validated learning with the least amount of effort. It's not about being perfect; it's about being functional enough to test your core hypothesis.Examples: A landing page with an email sign-up to gauge interest, a simple prototype, a concierge service where you manually deliver the core value, or even a basic functional app with only essential features.Measure: Once your MVP is out, measure how users interact with it. Track key metrics that indicate whether your solution is solving the problem and generating value. This could be user engagement, conversion rates, sign-ups, or early sales.Learn & Iterate (Pivot or Persevere): Analyze the data and feedback from your MVP. What did you learn? Does the market truly want what you've built? Based on these insights, you'll either "pivot" (make a fundamental change to your strategy or product) or "persevere" (continue with your current direction, making incremental improvements). This iterative cycle allows for rapid adaptation and reduces the risk of building something nobody wants.

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The Lean Startup Approach: Build, Measure, Learn | Luxembourg | Startup Grind