Lean Start-Up Methodology: Professor Steve Blank's Key Points
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Questions and Answers

What percentage of start-ups fail when following the traditional approach?

  • 50%
  • 75% (correct)
  • 90%
  • 25%
  • What is a key characteristic of Lean Start-Ups in terms of planning?

  • Both a and b are equally important
  • Elaborate planning
  • Experimentation over planning (correct)
  • No planning at all
  • What is the purpose of a minimum viable product?

  • To get early feedback and revise (correct)
  • To create a perfect product
  • To impress investors
  • To make a profit
  • What is 'pivoting' in the context of Lean Start-Ups?

    <p>A change in direction based on customer feedback</p> Signup and view all the answers

    What alternative sources of funding might Lean Start-Ups consider?

    <p>Seed investments, angel funds, crowdsourcing</p> Signup and view all the answers

    What is the primary goal of Lean Start-Up Techniques?

    <p>Searching for a scalable business model</p> Signup and view all the answers

    What is the 'get out of the building' approach used for in Lean Start-Up Techniques?

    <p>Asking potential users for feedback on business model elements</p> Signup and view all the answers

    What is the purpose of sketching out a canvas in Lean Start-Up Techniques?

    <p>To outline key assumptions on how a company creates value</p> Signup and view all the answers

    What are the two types of adjustments made to hypotheses in Lean Start-Up Techniques?

    <p>Iterations and pivots</p> Signup and view all the answers

    Who is the adjunct professor at Stanford University mentioned in the text?

    <p>Steve Blank</p> Signup and view all the answers

    What is one of the areas where Lean Start-Up Techniques can be applied?

    <p>Fast-growing new ventures, small business development, and commercialisation of science research</p> Signup and view all the answers

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