The Lean Startup – Does it change anything?
So when you are planning startup a new enterprise, you do have a list of things that you plan on checking before the launch and continuously do monitor if the plan is working accordingly. You actually have taken a hell lot of time on planning everything out, setting up a production team, launching the product or service and actively have start selling.
Now you also take time to notice that something is not working out as per your plan but again you and your team fail to realize which part it falls into. Now you know you are travelling fast towards a setback but you don’t have any mitigation plan in hand yet. Now according to a recent research you are not alone in this situation. Almost 75% of new start-ups are not successful, is what a study reveals.
Now is a time, when there is a simple solution to every problem in the universe. A new concept called The Lean Startup’ has emerged and it favors all the entrepreneurs. It promotes experimentation and the concept of Iterative model rather than the traditional set up of the business. It also emphasizes on customer communication thus minimizing the bandwidth between what is expected and the actual outcome.
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Lean Startup – For today’s Entrepreneurs!
Proposed in 2011 based on Eric Ries’s experience across cross functional startups, this theory is claimed to be super efficient. He puts his
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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
A simple concept which is very young. I believe now every new venture will opt for such a strategy to build an enterprise. Also it should be part of business studies so young generation is aware.
The second principle makes a lot of sense. A management is needed for every launch to be successful and mainly to manage a- z with respect to the product.