The Lean start up principles – What new strategies need to be implemented?

‘Validated Learning’ is third important principle of Lean startup methodology. Every business is started with the aim of achieving customers, earning high profit and thus attaining success. These are not the only things a business should aim at. The most important thing that should be aimed at is learning to sustain. How a business sustains successful is always a mantra only few people have mastered. This learning also needs to be validated at every step to ensure that every single step is tracked for its importance. A scientific approach could be developed for this step by step validation of our learning.

Innovative accounting comes as the fourth principle of the famous Lean start up methodology. Every business already has an accounting procedure in place for seamlessly running it. But there is always some gap as the old methodologies seize with concentrating on mere numbers alone. The tangible modules in a business like amount of success, prioritization of work, setting up of goals all need a mode of measurement too. That too, for a start up, all these become important criteria and trying to accommodate some accounting concepts to measure them would definitely yield positive results. Innovative accounting is introducing some novel ideas to measure the above said modules.

Read also Lean Startup Principle: Build- Measure-Learn