The Lean Startup method's goal is to help entrepreneurs avoid the risk of spending a lot of money and efforts to create a product that nobody needs. The Lean Startup is a new approach to continuous innovations. The approach to creating innovation invented at IMVU became the basis of the Lean methodology, which absorbed, among other things, lean manufacturing methods, design thinking, customer development, and agile development methodology. And the most fantastic thing is that this method worked effectively and helped to move quickly in development.
Learned from the experience of previous failures, Eric Rees and his partners began to give to users for testing, not perfectly built, but a very crude product.Īfter they attracted early users and received feedback from them, the product developers quickly changed options and created new versions, sometimes even several times a day. And this is what the Lean method is used for.Įric Rees invented his method in practice when he was the CTO of the company he founded, IMVU. Even such a chaotic and unpredictable phenomenon as a startup (can) should be managed. But as Eric notes, this approach will not lead to anything good either. They let things go by themselves and are guided by the "just do it" principle. The second reason may seem completely opposite to the first one - seeing that traditional management approaches do not work, entrepreneurs generally abandon any management tools. But the problem is that in the conditions of complete uncertainty in which startups operate, these classical management methods do not work.Ģ. Passion for traditional business calculations, plans, strategy building, comprehensive market research. This is the heart of Lean, aiming to help entrepreneurs improve a startup's chances of success.Īccording to Eric Ries, there are two main reasons for startup failures:ġ. At the initial stage of development, a startup needs to remain flexible to learn from mistakes and test the founders' hypotheses as quickly as possible, which means that it is necessary to avoid large investments and costs. Startups operate in an environment of extreme uncertainty, and this must be taken into account when launching it. Why is this so? Eric Ries, the author of the Lean Startup Methodology, is sure that the traditional approach to business development does not apply to startups.
Highly recommended book for entrepreneurs and anyone involved in innovations and product launches.ĭespite serious business plans, well-thought-out business models, detailed go-to-market strategies, and large investments, most startups fail.
This technique helps you use a scientific approach to build a growing business and avoid unnecessary costs. The Lean Startup is a lean manufacturing concept. If you don’t have time to read the whole book, we have prepared for you a short overview of the Lean Startup book by Eric Ries.
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