Lean Business Exploration contains a number of stages (similar to the Customer Development process). Each stage contains a number of steps. Although the process is presented linearly, it is meant to be iterative and if success is not achieved in a later stage then one can return to a previous step or stage.
Each step involves a number of checklists and guides (similar to the Customer Development process). The checklists indicate work to be completed and the completion criteria and the guides provide general guidance and advice on completing the cheklist.
Lean Business Preparation
This stage is about describing the vision, Lean Business Exploration is about testing and modifying a vision, rather than co-designing a solution, finding the right team, and getting setup.
- Describe the Opportunity
- Iteratively Search for Exploration Team
- Get Setup
- Check Preparation Stage Exit Criteria
Lean Business Discovery
This stage is about searching for and validating potential business opportunities. It is highly iterative and like any search there is no guarantee of success.
- Iteratively search for Problem-Solution Fit
- Iteratively search for a Desirable, Feasible, and Viable Business Model
- Iteratively search for Product-Market Fit
- Check Discovery Stage Exit Criteria
Lean Business Validation
Once a business opportunity has been found, there is still work to be done finding a sales funnel and process that work, as well as branding, positioning, and metrics for final evaluation.
- Iteratively search for a Sales Funnel and Process (that work)
- Iteratively search for Branding and Positioning (that work)
- Iteratively verify Metrics that Matter
- Check Validation Stage Exit Criteria
Once all these stages have been completed, and a final decision made on the desirability, feasibility, and viability of the business, the startup can become an operational business and move onto Customer Development stages of Customer Creation and Company Building.