As a digital business builder, we are passionate about building new digital business models and based on our many years of experience, we have developed the Bitrock phase model precisely for this purpose. Our model revolves around the iterative and customer-centred development of new products and services. We regularly validate our hypotheses, customer interest or new technologies and innovations with customers.

The Lean Startup method is one particular framework we like to apply in the process of developing new products and business models, as it shortens our product development cycles and allows us to rapidly discover if a proposed business model is viable. It was developed by the American software developer, founder and entrepreneur Eric Ries and published in his book "The Lean Startup" in 2012.

Central to the lean startup methodology are the three core elements "build", "measure" and "learn". Specifically, this means developing ideas with lean processes and as little capital expenditure as possible. Ideas are implemented by building Minimum Viable Products (MVP) and immediately afterwards, feedback and data from early customers are collected and evaluated. Next, new insights and learnings are transferred to the next iterative development stage. The goal of this method is to keep these iterative feedback loops as short as possible, to emphasize customer feedback over intuition and flexibility over planning.

We believe that Lean Startup is a valuable and helpful framework for both start-ups and established companies. It can help start-ups to develop a sustainable product or business model with minimal financial resources while reducing market risks. Also, medium-sized companies and corporations can apply this methodology as a foundation for their systematic innovation processes. Following an initial identification of customer needs and problems, a first MVP of a new product is developed rapidly instead of focusing on extensive concepts and long planning. This MVP is then continuously and iteratively being developed further up until the final product launch. General Electric's FastWorks program is a successful example of the consistent application of the Lean Startup method in the corporate world.

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