Starting a company is hard work, and it’s even harder to turn the initial buzz around a product into long term success. Fortunately, entrepreneur Eric Ries has developed a systematic approach to launching new companies. Called the Lean Startup, the method emphasizes constant learning and scientific decision-making.
Everyone is an entrepreneur. Employees of more traditional businesses can still use the Lean Startup method to push their ideas forward and think more creatively about their work.Without strong management strategies to turn that vision into reality, a startup won’t be sustainable. Entrepreneurs need management strategies that allow them to test concepts and correct mistakes in real time, ensuring that their allegedly good ideas can become good products that people want and continue to want in the long time and into the future.
The key to the Lean Startup model is that you will make miscalculations and wrong assumptions. But using the Build-Measure-Learn mode, you’ll also learn how you can fix those. The goal isn’t to avoid mistakes: it’s to use each mistake as a data-gathering experiment and make sure you don’t repeat it.
The heart of the Lean Startup is the pursuit of simplicity. Introduce the simplest version of your product first. Get rid of any unnecessary components in your organization.
The Lean Startup isn’t just about how to create a more successful entrepreneurial business,
it’s about what we can learn from those businesses to improve virtually in everything we do. I do imagine Lean Startup principles applied to government programs, to healthcare, and to solving the world’s great problems. It’s ultimately an answer to the question ‘How can we learn more quickly what works, and discard what doesn’t?
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