Triblr.com by Vlad Stan

One of the most recent and very fashionable concepts in the field of online entrepreneurship, especially in such important hubs like Silicon Valley, New York and London, is Lean Startup.

Eric Ries is the creator of the Lean Startup methodology and the author of the popular entrepreneurship blog Startup Lessons Learned. He previously co-founded and served as Chief Technology Officer of IMVU. In 2007, BusinessWeek named Ries one of the Best Young Entrepreneurs of Tech and in 2009 he was honored with a TechFellow award in the category of Engineering Leadership. He serves on the advisory board of a number of technology startups, and has worked as a consultant to a number of startups, companies, and venture capital firms.

Bellow is his speech about what the promise of this methodology is:

“The overwhelming majority of start-ups totally fail. Not because they are taking too much risk, but actually because when they finally build the technology, when it finally works, nobody wants to buy the product. A few years ago I started writing this blog called Startup Lessons Learned, trying to answer this question of what is the difference between the successful startups and the non-succesful startups.
The lean startup is an entrepreneurship methodology, that takes ideas from agile development, customer development, lean manufactory and applies them to the process of innovation. There is a number of practices of the lean startup: Continuous Deployment, where we can put code into production up to 50 times per day; rapid Split Testing - incorporating A/B hypothesis testing directly into the product development; the concept of Minimum Viable Product - launching at the smallest version of the product we can, to start the process of learning. Those techniques only make sense in the context of entrepreneurship. It is the attempt to create something new under conditions of extreme uncertainty. Progress is learning about what customers will want. We call it Validated Learning about Customers. When we validate what we’ve learned, we have proof that we are not just crazy, that we are in fact on the right track, that our assumptions that underly our business model make sense. That’s the promise of the lean startup.”

I believe it is a very well structured and comprehensible methodology, and I highly recommend it to all entrepreneurs, no matter their experience.
More posts analyzing separate aspects of it are to come, so stay tuned.