Lean Startup Training
Lean Startup is a methodology to build and manage companies, launch products quicker and products that provide value to the customer. This model takes a scientific approach toward product development.
Usually company build products that might take months costing both time and money only to find out that some of the features are not required anymore or the product they had built is not desirable to the customers. This is where the Lean Startup shows up and help in solving the underlying issues.
There are five principles of the Lean Startup.
- Entrepreneurs are everywhere
- Entrepreneurship is management
- Validated Learning
- Build Measure Learn
- Innovation Accounting
Following are the points that conclude about the Lean Startup methodology or what the Lean Startup has to offer us:
- Scientific approach to creating successful startups and managing them.
- Startups are not just about money, building innovative products or serving the customers. It is more about building a sustainable business.
- Put the MVP (minimum viable product) out there and improve it bit by bit.
- Turn those brilliant ideas into products, measure the responses of the customers, and learn whether to pivot the learning to a different strategy or persevere.
- Focus on metrics and test everything. Find out things that needs to be measured, and improve them.
Most importantly, grow as you learn. Build features, measure what customer really wants, and learn. Use these learnings to reduce waste and develop products that are valuable to your customer.
As Peter Drucker puts it, â€œThe successful person places more attention on doing the right thing rather than doing things right.â€ If innovation is what you value, then applying these 5 principles of the Lean Startup can help your company in accomplishing them.