The holder of an MD from Columbia University, Josh Gibson is an executive coach and business consultant based in San Francisco. In his practice, Josh Gibson helps companies adopt the Lean Startup methodology.
The Lean Startup method of launching a product or service is based on solving existing problems through gradual product development within a continuous feedback loop. Many entrepreneurs and business leaders develop products and then introduce them to the market without first considering the needs of potential customers. They may take months developing a product and perfecting a business plan, only to end up with a product that the market has little or no need for and is then hard to adapt. The Lean Startup method takes a market-first approach.
The method advocates exploring the market first to identify a problem that needs to be solved. Next, the entrepreneur or business leader is advised to develop a minimally viable product to introduce to the market. With the new product, he or she can engage customers and evaluate their reactions to it. The developer can gain insights into distribution, pricing, product features, and even customer acquisition metrics. With this information, the entrepreneur can make continuous adjustments to the product to improve viability and scalability by repeatedly going back to potential customers for feedback. The method focuses on executing a lean product development effort, experimenting, and obtaining customer validation.
The Lean Startup method of launching a product or service is based on solving existing problems through gradual product development within a continuous feedback loop. Many entrepreneurs and business leaders develop products and then introduce them to the market without first considering the needs of potential customers. They may take months developing a product and perfecting a business plan, only to end up with a product that the market has little or no need for and is then hard to adapt. The Lean Startup method takes a market-first approach.
The method advocates exploring the market first to identify a problem that needs to be solved. Next, the entrepreneur or business leader is advised to develop a minimally viable product to introduce to the market. With the new product, he or she can engage customers and evaluate their reactions to it. The developer can gain insights into distribution, pricing, product features, and even customer acquisition metrics. With this information, the entrepreneur can make continuous adjustments to the product to improve viability and scalability by repeatedly going back to potential customers for feedback. The method focuses on executing a lean product development effort, experimenting, and obtaining customer validation.
