The Lean Startup methodology works through a cycle of three main stages: Build, Measure, and Learn.
1. Build: Develop a Minimum Viable Product (MVP) that includes only the core features necessary to test the business hypothesis. This helps to minimize wasted resources and time.
2. Measure: Use metrics and customer feedback to measure the effectiveness of the MVP. This stage involves rigorous data analysis to determine whether the product meets customer needs and expectations.
3. Learn: Analyze the data and customer feedback to gain insights. Decide whether to pivot (make a fundamental change to the product or business model) or persevere (continue with the current strategy).