The Lean Startup

The Lean Startup
The Lean Startup
If you are thinking of starting a new business, So you should know the secret of a successful business. Today you will know about Lean Startup and If you apply this to your business then your business growth will rapidly increase. This is taken from a book "The Lean Startup" by 'Eric Ries'. Lean startup is the experiment and Its main goal is to learn from mistakes and improve this. Lean Startup has 5 basic Ideas.

1) Entrepreneurs are Everywhere
2) Management
3) Validate Learning
4) Build, Measure & Learn
5) Progress

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      Entrepreneurs are Everywhere
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It is not necessary to start a business from a garage, It doesn't matter where you start when you are determined to become an entrepreneur. Now you decided to be an Entrepreneur then you cannot predict anything beforehand in a startup. Any organization that starts a new service or product is it's Startup when it has no confidence in its running or not. And this Startup applies to every industry, every sector and all sized company.

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      Management
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When you talk of a start-up, it is not just about the product.  People who make that product also involved in the startup.  And those people or that institute need to be managed in a special way because they are very uncertain about that startup.

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      Validate Learning
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which means such experiments which are done in the business to analyze how the outcome of those experiments will be on the business, It will increase sales or decrease it. This is the same as having a scientific hypothesis and it is also necessary in a way because it is the goal of a start-up to sustain a business.  It is not just about earning profits for a period of time.

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      Build, Measure & Learn
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The startup has 3 primary tasks. Creating new products from Idea, measuring customer feedback and learning from that feedback whether this thing will go ahead or not that means pivot & persevere. Pivot means If your Idea is not working then you can think for another business. Persevere means If your Idea is working then you can go pursue.

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      Progress
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Your startup should have a habit of following the Build-Measure-Learn cycle.  It should work on its shortcomings as soon as the feedback is received.  In order to achieve a sustainable business, start-ups must know which process they want to pursue.

This Blog Post is also available in Hindi Language
click here to Read In Hindi.

Watch this for better Understanding.
The Lean Startup
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