NYT printed an article today on the Lean Start-Up business model. In fact, that business model was followed by many Internet companies for some time. It allows companies to test the market quickly, find out what works and what doesn't, and build the service or technology that the customer actually wants, while eleminating any cost or investment that doesn't produce the value for their customers.

So the lean playbook advises quick development of a “minimum viable product,” designed with the smallest set of features that will please some group of customers. Then, the start-up should continually experiment by tweaking its offering, seeing how the market responds and changing the product accordingly. Facebook, the giant social network, grew that way, starting with simple messaging services and then adding other features.

I personally diagree that the term "lean start-up" is a novel term for the business model. It is a business model that doesn't require venture capital and allows companies to build with a focus on the consumer and their needs, versus building the technology that nobody wants.

So the lean playbook advises quick development of a “minimum viable product,” designed with the smallest set of features that will please some group of customers.

I prefer the term "bootstrap operation". It might take time to get the boots or straps, but the lack of overhead makes the operation agile and capable of rapid change based on marketplace feedback.