Are you an entrepreneur looking to launch out into the
business world? It is important that you consider creating your business
through the lean startup way, as proposed by Eric Ries. Through this approach,
you will be able to create and manage your startup as well as deliver your
products faster. If you are looking for a way to steer a startup and grow it
faster, you need to learn everything about the lean startup methodology.
You will not be like those startups that begin with a
product idea that you think people might want. Why should you spend months or
even years trying to perfect the product only for it to be rejected when it
reaches the market? When customers fail to adopt the product, the result is the
failure for the startup.
That’s exactly lean startup by Eric Ries sought to address.
Check out the following lean startup summary.
A number of traditional startups cannot claim to have
specialized management. They have been forced to come up with a new product or
service without the ability to predict its acceptability. Many have been forced
to abandon the process, altogether. Why shouldn’t they? After all, they have a
â€just do it’ attitude that’s bereft of any form of management. The lean startup
approach by Eric Ries provides the tools an entrepreneur can use to
continuously test their vision. Once you have a product development methodology
in place, just why should your business fail?
Developing a minimum viable product (MVP)
It is not possible to say you know everything about the lean
startup methodology if you haven’t heard about the build-measure-learn feedback
mechanism. What’s the problem that you want to solve? Once you’ve got that
figured out, the next step is developing a minimum viable product (MVP). That’s
followed by the development of mechanisms to measure how well the product is
performing in the market. By utilizing the â€Five Whys,’ you should be able to
brainstorm problems and find the possible solutions. That way, you will be able
to tell whether you are moving in the right direction or not. If anything, you
should be able to easily change direction when you notice that your product is
not doing well.
Working smarter not harder
According to the lean startup summary, every startup is an
experiment that tests and provides answers to certain questions. It shouldn’t
be about whether a product can be built, but rather about whether it should be
built. The experiment is your first product. Its success will determine how
successful a manager will be in promoting the product to potential consumers,
bringing in employees, and building the actual product. That way, they can test
the ability of the product to solve a real problem and make improvements as
You cannot know how successful you are as a manufacturer if
you don’t know anything about the quality of your products. Through validated
learning, you should be able to demonstrate progress, even in the face of
unforeseen uncertainties. It is about focusing on building what customers want
and are ready to pay for. That way, it is easier to drastically shrink the
product development process and bring the product launch closer than expected.
As an entrepreneur, there is no reason why you shouldn’t adapt your plans
Why don’t you try the lean startup methodology by Eric Ries?