It’s a sad reality that most startup businesses are likely to fail. Howver, for Eric Ries, author of The Lean Startup, one of the more popular business and management books, failure can be prevented using a structured and scientific approach. In his book, Ries teaches the process to aspiring entrepreneurs everywhere.
Based from the principles of lean, The Lean Startup teaches entrepreneurs the scientific way to create and manage a startup business, develop a new product, deliver it to the hands of the customer faster, and effectively drive growth to the startup with maximum acceleration. Ries starts out by giving a new definition to startup. His scientific process is based on the concept that the existence of startup businesses is not based on serving customers but on building a sustainable business.
In his business and management book, Ries identifies four key elements in order to learn the Lean method.
Many startup businesses implement a “just do it” approach to running their business. Without a tailored management process, there will be chaos in the development of a product and the management of the startup. For the business to be successful, there must be order and rigorous process in the development of a product.
The experiment involved in Ries’ methodology entails more than just theoretical inquiry. According to Ries, experimenting will allow the business to start enlisting early adopters, adding staff to the next project or iteration and eventually developing a product. The business and management book reveals that experimenting will allow the product to have established customers already once it is widely distributed.
Upon identification of the problem that requires resolution, Ries explains that the next step is to develop a minimum viable product or MVP to initiate the learning process as soon as possible. Ries considers this step as the most important in The Lean Startup method.
The measure of progress in a startup business is validated learning. According to Ries, it is important for startup businesses to embrace validated learning as a means of decreasing the development process. In this business and management book, Ries explains that focusing on the right things to build, you need not undergo beta testing in order to modify the direction of your company.
So if you are the owner of as startup business, The Lean Startup can be a good source of learning and motivation for growing your new business.
Robert Janitzek provides tips and guides on helpful books to guide you in managing your business. Check out his website at www.robertjanitzekbooks.com.