Lean Startup #2

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

true

Customers reveal the truth in what they want by their action or inaction to your products or services (T/F)

strategy

If the numbers for early experiments don't look promising, there is clearly a problem with the ________

false

Innovation accounting will still work even if a startup is being misled by vanity metrics such as gross number of customers and so on. (T/F)

true

More than one engine of growth can operate in a business at a time (T/F)

true

The Build-Measure-Learn feedback loop is at the core of the Lean Startup model (T/F)

- thoroughly - immediately - rigorously

The Lean Startup model offers a way to test an organization's hypotheses _________

value

The __________ hypothesis tests whether a product or service really delivers value to customers once they are using it.

minimum viable product (MVP)

The __________ is that version of the product that enables a full turn of the Build-Measure-Learn loop with a minimum amount of effort and the least amount of development time

delaying the decision to pivot

The following are all examples of ______________: Vanity metrics Unclear hypothesis Fear

true

The goal of a startup is to figure out the right thing to build - the thing customers want and will pay for - as quickly as possible. (T/F)

true

The importance of small-batch approach produces a finished product every few seconds, whereas the large-batch approach must deliver all the products at once, at the end. (T/F)

waste

The lesson of the minimum viable product is that any additional work beyond what was required to start learning is ___________, no matter how important it might have seemed at the time.

pivot

The more money, time, and creative energy that has been sunk into an idea, the harder it is to ______

small batches

The one envelop at a time approach is called "single-piece flow" in lean manufacturing. It works because of the surprising power of ___________

- unpredictable thing - decentralized - bottoms up

innovation is a

true

As you consider building your own minimum viable product, let this simple rule suffice: remove any feature, process, or effort that does not contribute directly to the learning you seek (T/F)

true

Companies are able to design, develop, and ship out new features one at a time, taking advantage of the power of small batches (T/F)

true

Once IMVU's efforts were aligned with what customers really wanted, their experiments were much more likely to change their behavior for the better. (T/F)

false

Pivots are a permanent fact of life for any growing business. Unless they achieve initial success. (T/F)

true

Ries believes that entrepreneurship requires a managerial discipline to harness the entrepreneurial opportunity we have been given. (T/F)

False

Ries believes the mantra of successful entrepreneurs: through determination, brilliance, great timing, and above all, a great product, they can achieve fame and fortune (T/F)

true

Startup organizations must attempt to tune the engine from the baseline toward the ideal. (T/F)

validated learning

Startups have to focus on the big experiments that lead to ___________

true

The theory of the Lean Startup is an organization designed to create new products and services under conditions of extreme uncertainty. (T/F)

natural

To accelerate, Lean Startups need a process that provides a __________ feedback loop.

pivot

Without a formal growth model, many companies get caught in the trap of being satisfied with a small profitable business when a ______ might lead to more significant growth.

learning

______ is the oldest excuse in the book for a failure of execution

Innovation Accounting

_____________ , a quantitative approach that allows us to see whether our engine-tuning efforts are bearing fruits

learning

_____________ is the essential unit of progress for startups


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