Having an idea is just the first step in the entrepreneurial journey. Most startups fail — usually due to lack of product-market fit, not product development problems. Startups are more likely to succeed when they rapidly and iteratively test assumptions about the business model. The opportunity becomes a business when customer and stakeholders’ feedback is turned into a valued product. The iterative process means that an unmet need is identified; capabilities and resources adjusted to meet that need and a product or service is created to be delivered to a specified market generating value to all stakeholders. New ventures that follow this approach are lean startups. “Lean startup practices are being pursued by firms in Silicon Valley and beyond. These practices have gained special traction in the information technology sector.