The minimum viable product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.

The grim reality is that most start-ups fail. Most new products are not successful. Yet the story of perseverance, creative genius, and hard work persists.

A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty.

New Customers come from the action of past customers

It doesn't matter if you call it a boom or a bubble. The startup business moves in cycles, and what goes up will eventually come down.

In my first start-up, I had an initial advertising budget of $5 per day total. That would buy us 100 clicks per day. At $5 per day, marketing people scoffed and said that is too small to matter. But if you think about it, to an engineer, 100 real humans everyday giving your product a try means you can really start improving.

The goal of a startup is to figure out the right thing to build-the thing customers want and will pay for-as quickly as possible. In other words, the Lean Startup is a new way of looking at the development of innovative new products that emphasizes fast iteration and customer insight, a huge vision, and great ambition, all at the same time.