Acclaim for THE LEAN STARTUP

the U.S. population and has delivered tens of thousands of messages
to Congress. The Startup Visa campaign used Votizen’s tools to
introduce the Startup Visa Act (S.565), which is the rst legislation
introduced into the Senate solely as a result of social lobbying.
These activities have attracted the attention of established
Washington consultants who are seeking to employ Votizen’s tools
in future political campaigns.
David Binetti sums up his experience building a Lean Startup:
In 2003 I started a company in roughly the same space as
I’m in today. I had roughly the same domain expertise and
industry credibility, fresh o the USA.gov success. But back
then my company was a total failure (despite consuming
signicantly greater investment), while now I have a
business making money and closing deals. Back then I did
the traditional linear product development model, releasing
an amazing product (it really was) after 12 months of
development, only to nd that no one would buy it. This
time I produced four versions in twelve weeks and
generated my rst sale relatively soon after that. And it isn’t
just market timing—two other companies that launched in
a similar space in 2003 subsequently sold for tens of
millions of dollars, and others in 2010 followed a linear
model straight to the dead pool.
A STARTUP’S RUNWAY IS THE NUMBER OF PIVOTS IT CAN
STILL MAKE
Seasoned entrepreneurs often speak of the runway that their startup
has left: the amount of time remaining in which a startup must
either achieve lift-o or fail. This usually is dened as the
remaining cash in the bank divided by the monthly burn rate, or net
drain on that account balance. For example, a startup with $1
million in the bank that is spending $100,000 per month has a
projected runway of ten months.