{"id":6225,"date":"2025-06-26T11:37:00","date_gmt":"2025-06-26T09:37:00","guid":{"rendered":"https:\/\/storiesonboard.com\/blog\/?p=6225"},"modified":"2025-07-07T23:41:48","modified_gmt":"2025-07-07T21:41:48","slug":"lean-product-terms","status":"publish","type":"post","link":"https:\/\/storiesonboard.com\/blog\/lean-product-terms","title":{"rendered":"\ud83d\udcd8 Glossary of Lean\u2011product Terms Every Founder Should Know"},"content":{"rendered":"\n

Jargon can be a barrier when you\u2019re moving fast. This glossary clusters core lean\u2011product vocabulary into five themed groups so you can ramp up your team\u2014and investors\u2014without pausing to Google mid\u2011meeting. Each group opens with a quick explainer, followed by bite\u2011sized definitions (two to three sentences each) you can drop into Slack threads or pitch decks.<\/p>\n\n\n\n

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Lean Principles<\/h2>\n\n\n\n

These are the philosophical roots\u2014mindsets that shape every decision from backlog grooming to funding strategy.<\/em><\/p>\n\n\n\n

build\u2011measure\u2011learn<\/h3>\n\n\n\n

Coined by Eric\u202fRies, this loop captures the essence of lean: build something small, measure how real users react, learn from the data, and iterate. Success is measured in validated learning, not lines of code.<\/p>\n\n\n\n

validated learning<\/h3>\n\n\n\n

Evidence\u2011based insights that either prove or disprove a business assumption. When you can move a metric\u2014or fail to\u2014you know your next priority.<\/p>\n\n\n\n

waste<\/h3>\n\n\n\n

Any feature, meeting, or report that doesn\u2019t accelerate learning or deliver customer value. Spotting and eliminating waste keeps burn rate low and focus sharp.<\/p>\n\n\n\n

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Experimentation Metrics<\/h2>\n\n\n\n

Numbers that reveal whether an idea is gaining traction or needs a rethink.<\/em><\/p>\n\n\n\n

activation rate<\/h3>\n\n\n\n

The percentage of sign\u2011ups who reach their first \u201caha\u201d moment\u2014often a leading indicator of retention. Boosting activation usually gives the biggest bang for buck early on.<\/p>\n\n\n\n

cohort analysis<\/h3>\n\n\n\n

Grouping users by sign\u2011up date or segment to observe how behavior changes over time. It helps you separate product improvements from seasonal or marketing noise.<\/p>\n\n\n\n

north\u2011star metric<\/h3>\n\n\n\n

A single, high\u2011level measure that best captures your product\u2019s delivered value\u2014think daily active users or dollars of GMV. It aligns teams and prevents vanity metric chasing.<\/p>\n\n\n\n

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Product Artefacts<\/h2>\n\n\n\n

Concrete outputs used to test hypotheses at different stages.<\/em><\/p>\n\n\n\n

mvp (minimum viable product)<\/h3>\n\n\n\n

A functional slice that delivers just enough value to learn whether users will adopt or pay. StoriesOnBoard\u2019s story maps are great for shaving an MVP down to its critical path.<\/p>\n\n\n\n

prototype<\/h3>\n\n\n\n

A clickable or high\u2011fidelity mock\u2011up used to validate usability before coding begins. It answers \u201cdo people understand how to use this?\u201d<\/p>\n\n\n\n

proof\u2011of\u2011concept<\/h3>\n\n\n\n

A technical demo that proves a risky piece of engineering can work\u2014often throwaway code. It safeguards against investing in impossible builds.<\/p>\n\n\n\n

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Agile Process Essentials<\/h2>\n\n\n\n

Ceremonies and artefacts that keep lean teams shipping fast without chaos.<\/em><\/p>\n\n\n\n

sprint<\/h3>\n\n\n\n

A fixed\u2011length (commonly one\u2011 or two\u2011week) timebox during which a team commits to deliver a small, releasable increment. It enforces focus and provides regular learning checkpoints.<\/p>\n\n\n\n

retrospective<\/h3>\n\n\n\n

A short meeting at each sprint\u2019s end where the team inspects what went well or poorly and decides how to improve. Continuous improvement in action.<\/p>\n\n\n\n

kanban wip limit<\/h3>\n\n\n\n

A cap on how many tasks can be in progress at once. It reduces context switching, exposes bottlenecks, and accelerates flow.<\/p>\n\n\n\n

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Customer Insight Methods<\/h2>\n\n\n\n

Tools for understanding the humans behind the metrics.<\/em><\/p>\n\n\n\n

job\u2011to\u2011be\u2011done (jtbd)<\/h3>\n\n\n\n

A framework that describes what a user hires<\/em> a product to accomplish. Focusing on jobs rather than demographics helps uncover non\u2011obvious competitors and opportunities.<\/p>\n\n\n\n

empathy interview<\/h3>\n\n\n\n

A qualitative conversation that digs into emotions and motivations, not just surface problems. Done early, it shapes value propositions before a single pixel is designed.<\/p>\n\n\n\n

net promoter score (nps)<\/h3>\n\n\n\n

A simple survey asking users how likely they are to recommend your product on a 0\u201110 scale. While imperfect, trends in NPS often flag churn risks or product\u2011market fit progress.<\/p>\n\n\n\n

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Key Takeaways<\/h2>\n\n\n\n