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Ep365 - Eric Ries | The Lean Startup

Talks at Google

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Lean Startup: A Strategy for Avoiding Barriers to Entry

In the world of startups, knowing your customer is crucial. However, in entrepreneurship, it's often a challenge to figure out what the customer wants. Lean Startup, with the help of customer development and agile development, aims to shift the focus from making stuff to validated learning. The story of IMVU illustrates the importance of understanding the customer's needs and preferences. Despite their initial strategy of creating an interoperable instant messaging add-on with 3D avatar technology, they discovered that customers didn't have high switching costs and were reluctant to invite their friends. This realization forced them to rethink their approach.

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