11 Questions
What percentage of start-ups fail when following the traditional approach?
75%
What is a key characteristic of Lean Start-Ups in terms of planning?
Experimentation over planning
What is the purpose of a minimum viable product?
To get early feedback and revise
What is 'pivoting' in the context of Lean Start-Ups?
A change in direction based on customer feedback
What alternative sources of funding might Lean Start-Ups consider?
Seed investments, angel funds, crowdsourcing
What is the primary goal of Lean Start-Up Techniques?
Searching for a scalable business model
What is the 'get out of the building' approach used for in Lean Start-Up Techniques?
Asking potential users for feedback on business model elements
What is the purpose of sketching out a canvas in Lean Start-Up Techniques?
To outline key assumptions on how a company creates value
What are the two types of adjustments made to hypotheses in Lean Start-Up Techniques?
Iterations and pivots
Who is the adjunct professor at Stanford University mentioned in the text?
Steve Blank
What is one of the areas where Lean Start-Up Techniques can be applied?
Fast-growing new ventures, small business development, and commercialisation of science research
Learn about the Lean Start-Up methodology through Professor Steve Blank's key points on how it changes the traditional approach. Understand why up to 75% of start-ups fail under the traditional method and the features of a Lean Start-Up.
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