Lenny's Podcast: Product | Growth | Career cover image

Lenny's Podcast: Product | Growth | Career

Reflections on a movement | Eric Ries (creator of the Lean Startup methodology)

Oct 29, 2023
Eric Ries, the creator of the Lean Startup methodology and founder of the Long-Term Stock Exchange, dives deep into startup culture. He discusses common misconceptions about Minimum Viable Products (MVPs) and the importance of adapting through failures. Ries also shares his insights on the role of AI in product development and emphasizes aligning company governance with ethical values. Listeners will appreciate his journey from startups to advocating for long-term strategies, all while stressing the value of customer feedback and adaptability.
02:14:13

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Quick takeaways

  • Building an MVP is about understanding the minimum features necessary for testing assumptions and validating hypotheses.
  • Common misconceptions about MVPs include sacrificing quality and building limited feature products.

Deep dives

The Importance of Building a Minimum Viable Product

Building a minimum viable product (MVP) is a crucial step in the startup journey. The concept of an MVP is not about building something cheap or low quality, but rather about understanding the minimum features and functionality necessary to test your assumptions and validate your hypothesis. It's about finding the most efficient way to get the validation you need about whether your idea will resonate with customers or not. The key is to start small and focus on the core elements that will help you gather meaningful feedback. By being open to feedback and learning from your customers, you can iterate and improve your product over time.

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