Monthly Archives: March 2020

Customer would be interested enough to sign up. (Registration) We would be able to verify them as registered users. (Activation) Customers who were engaged in site features and functions. (Retention) Engaged customers would tell their friends about the service and recruit. (Referral) Ref: The Lean Startup

Instead of looking at cumulative totals or gross numbers such as total revenue and total number of customers, one looks at the performance of each group of customers that comes into contact with the product independently. Each group is called a cohort. Each conversion rate shows the percentage of customer who registered in that month […]

Customers don’t care how much time something takes to build. They care only if it serves their needs. Ref: The Lean Startup

Genchi Genbutsu is the Japanese principle of going to and directly observing a location and its conditions in order to understand and solve any problems faster and more effectively. The phrase literally translated means “go and see for yourself” and is a part of the Toyota Way philosophy.

Competitors who? Forget your competitors, just focus on your customers. Ref: Jack Ma

Startups use many kinds of innovation: novel scientific discoveries, repurposing an existing technology for a new use, devising a new business model that unlocks value that was hidden, or simply bring product or service to a new location or previously underserved set of customers. In all these cases, innovation is the heart of the company’s […]

A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty. Ref: The Lean Startup

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