Question

Which of the following are principles of Lean startup? Select all that apply.

A. Entrepreneurs are everywhere
B. Invest as little as possible and build inexpensive products
C. Innovation Accounting
D. Validated Learning

Answer 1

The principles of Lean startup are: 1) Entrepreneurs are everywhere, 2) Invest as little as possible and build inexpensive products, 3) Innovation Accounting, and 4) Validated Learning.

Step-by-step explanation:

The principles of Lean startup include:

1. Entrepreneurs are everywhere: This principle means that anyone can be an entrepreneur, and business ideas can come from anyone, regardless of their background or current position.
2. Invest as little as possible and build inexpensive products: This principle emphasizes the importance of minimizing costs and focusing on creating a simple and cost-effective product or service.
3. Innovation Accounting: This principle involves measuring and evaluating progress using relevant metrics to ensure that resources are allocated effectively.
4. Validated Learning: This principle involves constantly testing assumptions and learning from customer feedback to make data-driven decisions.