The MPV`s continuum in the build-measure-learn loop : The stages of the lean startup development process.

This thesis focuses on the development of startup companies through the Minimum Viable Product (MVP) concept, utilizing the Build-Measure-Learn (BML) development loop. Lean principles and The Lean Startup model are employed as the theoretical framework. The research data were collected from the service development processes and customer testing phases of two startup companies in 2024. The study adopts an ethnographic research perspective to observe startup development processes and to understand the experiences of founders and their development teams, as well as to observe customers. The startups under investigation were implemented based on the design of the MVP using the Business Model Canvas, and the phases of new business development were examined through the principles of The Lean Startup. The research question was: How do the stages of the MVP create continuity within the BML loop in practice? The study found that the MVP development process of a startup is inherently convoluted rather than linear. Based on the results, the development journey of startups is more accurately described as a pathway that meanders through various points, searching for direction, rather than merely as a forward-moving progression or cyclical iteration. This discontinuity manifests in the continual modification of original hypotheses, adjustment of the business model, clarification of value propositions, and the evolution of customer expectations alongside founders' preconceived notions. A key factor within the BML loop is the founders' objective focus on customer feedback and their readiness to learn, which often necessitates repositioning of the startup when the initially set hypotheses deviate from the actual customer problems and proposed solutions. It can be concluded that the hypotheses and business models of startups significantly diverged from the initial setup of the development process. At the same time, the founders gained substantial insights into effective business development, the identification of real customer value, and the development of their minimum product. Future research could deepen the understanding brought by this study through comparative research on the stages of the BML loop and the evolution of MVPs across multiple startups. There is still relatively little academic research on the application of the Lean Startup methodol- ogy; therefore, future studies could also explore the construction of MVPs in startups, the de- velopment of their strategies and hypotheses, as well as the evolution of the BML loop in rela- tion to the dynamics of business models and the backgrounds of the founders. The research reinforced the importance of defining the MVP and value proposition, the significance of cus- tomer-centric thinking, and the ability to learn dynamically across various developmental phases of startups. The target is not always immediately apparent, and direction of the startup neces- sitate considerable time and multiple iterations for both customers and startup teams.