# Start-up > [!definition] > >A temporary organization designed to **search** for a repeatable and scalable [[business-model|business model]]. - For new ideas, the goal is to **quickly gather data and talk to potential customers** to validate or invalidate a set of hypotheses. - A traditional [[strategy|Strategic Plan]] is not as useful for the development of new ideas where the [[business-model|Business Model]] is not clear. - Lean Start-Up Approach - Summarize business opportunity and guesses using [[business-model-canvas|Business Model Canvas]]. - Test business model/guesses -- [[customer-development|Customer Development]] Process - Practice [[agile|Agile Development]] - Fail quickly and cheaply, rather than fail slowly and expensively. - Five things (by Chris Vargas) - Problem/Need - Market, ICP (Ideal Customer Persona) - Solution - GTM = Go-to-Market strategy -- the most difficult part - Monetization strategy - Stages - Idea - [[mvp|MVP]] = Minimum Viable Product - PMF = Product Market Fit - Growth - Expansion - Large companies can also utilize a lean start-up approach, e.g. *[[fastworks|FastWorks]]* Framework in General Electric ## Funding - [[cap-table|Cap Table]] - [[vc|Venture Capital]] - Founders agreement. - "Simple Agreement for Future Equity" (= SAFE) by Y Combinator