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A small business can apply the lean startup principles by first getting a product in front of customers as quickly as possible, even if it's not perfect. This allows the business to gather feedback and measure the results of their initial offering. If the results indicate that they are on the right track, they can persevere and use the feedback to customize the product based on what customers want or need. If not, they will need to pivot their focus. This approach minimizes the amount of time, money, and energy spent in getting the right product to market.
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The goal here is to minimize the amount of time, money, and energy spent in getting the right product to market. By getting a product in front of customers as quickly as possible, perfect or not, a startup will be able to fine-tune their product and their strategy. Readers will learn that by measuring the results of their initial offering, they will know if they are on the right track. If not, then they will need to pivot their focus. If they are on the right track, they persevere and use the feedback to customize the product based on what customers want or need.
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New business ventures are both exciting and risky. New ventures are risky as the main idea may or may not work, yet the chances of success are much gr...
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