Lean Cycle Evolution

Question 1

What is the MVP in the Build-Measure-Learn Cycle?

Answer 1

The Minimum Viable Product (MVP).

Question 2

What are the benefits of the Learn-Measure-Build Cycle?

Answer 2

1. Improved planning
2. Helps prevent unnecessary costs
3. Ensures market demand before building

Question 3

Why does the Learn-Measure-Build Cycle start with the Learn phase?

Answer 3

It allows better planning, and prevents unecessary costs, by ensuring market demand for the product.

Question 4

What happens in the Learn phase?

Answer 4

An enterprise creates a hypothesis about the market and determines what empirical data would validate it.

Question 5

What happens in the Measure phase?

Answer 5

The hypothesis is tested by collecting empirical data (e.g., market research, public surveys).

Question 6

When does the Build phase begin?

Answer 6

When empirical data supports the hypothesis.

Question 7

What is created in the Build phase?

Answer 7

A Minimum Viable Product (MVP).

Question 8

What is pivoting?

Answer 8

Changing product direction based on new insights at the end of a cycle.

Question 9

What is a Technology Pivot?

Answer 9

When the product could deliver value more efficiently using different technology.

Question 10

What is an example of a Technology Pivot?

Answer 10

Microsoft Office was a one-time purchase, but Microsoft 365 became a cloud-based subscription service.

Question 11

What is a Zoom-In Pivot?

Answer 11

When a product feature becomes an entire product.

Question 12

What is an example of a Zoom-In Pivot?

Answer 12

Flickr started as a multiplayer game, but its photo-sharing feature became more popular.

Question 13

What is a Zoom-Out Pivot?

Answer 13

When a product becomes just a feature within a larger product.

Question 14

What is an example of a Zoom-Out Pivot?

Answer 14

DotCloud evolved into Docker to allow application movement between clouds.

Question 15

What is a Customer Segment Pivot?

Answer 15

When the product solves a problem, but for a different audience than intended.

Question 16

What is an example of a Customer Segment Pivot?

Answer 16

YouTube started as a dating site but pivoted to general video sharing.

Question 17

What is a Customer Need Pivot?

Answer 17

When the product solves a problem, but not the most important one.

Question 18

What is an example of a Customer Need Pivot?

Answer 18

Twitter started as a podcasting platform but pivoted to an SMS-based social network.

Question 19

Why are other types of MVPs (as opposed to software MVPs) important?

Answer 19

Because software is expensive and difficult to develop.

Question 20

What is a Concierge MVP?

Answer 20

A person works directly with customers to refine the product concept.

Question 21

What is an example of a Concierge MVP?

Answer 21

A wedding planner discussing initial plans with a couple.

Question 22

What is a Wizard of Oz MVP?

Answer 22

A person simulates a product without the customer knowing.

Question 23

What is a Landing Page MVP?

Answer 23

A page that introduces a product idea and allows potential customers to pledge support.

Question 24

What is a Video MVP?

Answer 24

A video demonstrating the product and asking for customer sign-ups.

Question 25

What is a startup according to Eric Ries?

Answer 25

An experiment where you test a hypothesis.

Question 26

What is the biggest waste in product development?

Answer 26

Building something efficiently that nobody wants.

Question 27

What is the universal constant of all successful startups?

Answer 27

The Pivot.

Question 28

Why isn’t agile development always right for startups?

Answer 28

Agile assumes a known customer but unknown specification, while startups often don't know either.

Question 29

What is validated learning?

Answer 29

Learning (quantitatively) how to build a sustainable business.

Question 30

What needs to be in the first version of a product?

Answer 30

Only what is necessary to learn if the plan is correct.

Question 31

What is the key heuristic for startup advice?

Answer 31

Does it minimise total time through the Build-Measure-Learn loop?

Question 32

What are actionable metrics?

Answer 32

Per-customer behaviors that can be measured.

Question 33

What pivot happens when it becomes clear that the product could deliver its value more efficiently using different technology?

Answer 33

Technology Pivot

Question 34

What pivot happens when a product feature becomes an entire product in itself?

Answer 34

Zoom-In Pivot

Question 35

What pivot happens when the product becomes a product feature?

Answer 35

Zoom-Out Pivot

Question 36

What pivot happens when the product solves a problem, but not the one intended?

Answer 36

Customer Segment Pivot

Question 37

What pivot happens when the product solves a problem, but not the most important one?

Answer 37

Customer Need Pivot

Question 38

What MVP gets a person (and obviously the customer knows it is a person) to work with the customer to refine how the product will work?

Answer 38

Concierge MVP

Question 39

What MVP gets a person (but the customer does not know it is a person) to simulate how the product will work?

Answer 39

Wizard of Oz MVP

Question 40

What pivot creates a page where potential customers can find out about a product idea, and perhaps even pledge money to fund its development?

Answer 40

Landing Page MVP

Question 41

What MVP shows how the product might work, and asks customers to sign up for it?

Answer 41

Video MVP

Question 42

When does a pivot occur?

Answer 42

At the end of a cycle

Question 43

What is an example of a Wizard of Oz MVP?

Answer 43

Airbnb started with a couple renting a room by hand with a website “front”