The Lean Startup Method - A golden ticket to success or a vision killer?

Abstract: This thesis aims to investigate the advantages and limitations of the lean startup method. Eric Ries published the book The Lean Startup in 2011 and it quickly became popular among entrepreneurs and business developers. However, there is little research on the lean startup method as of today, which has inspired the authors of this thesis to investigate the significance and application of the method further. In order to answer the research question a qualitative, exploratory and abductive methodology approach was deemed suitable. In-depth semi-structured interviews were chosen as data collection method and a total of 10 interviews were conducted with six entrepreneurs, two business developers and two investors. A literature review was conducted in order to give the reader a thorough understanding of the lean startup method and its relation to other theories within the same field of study. The findings show that the lean startup method advocates a sound entrepreneurial mindset and it provides a great set of tools and hands-on recommendations that can help startups understand how to build and measure success. However, the findings also show that the method might not be suited for all types of companies, which is something Eric Ries clearly claims in his book. Instead it seems as if it can have a negative effect on the long-term planning of the startup, be hard to apply for high-tech companies and even be discouraging toward visionary cases of radical innovation. The entrepreneurs are advised to analyze the purpose and vision of their company before deciding on what aspects to apply from the method and what to ignore.