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The Lean Startup methodology can be applied in today's business environment by following its core principles. First, get a product in front of customers as quickly as possible, even if it's not perfect. This allows for immediate feedback and the opportunity to fine-tune the product based on customer needs and wants. Second, measure the results of the initial offering to determine if the business is on the right track. If the results are not as expected, pivot the focus. If the results are positive, persevere and continue to use customer feedback to customize the product.
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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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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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