What is Lean Startup?

There have been many methodologies and approaches to unravel the truths of becoming a successful entrepreneur and building a startup. The Lean Methodology is proving to be the front-runner for entrepreneurs to follow at the moment – here’s why.

Using the Lean Startup approach, companies can create order not chaos by providing tools to test a vision continuously.” – Eric Ries

There are many incubators, events, workshops, mentoring programmes. But are they teaching the right methodology? Are they pinpointing the real action to take in hitting business success? Well right now, many of us are listening to the mantra of Mr Ries.

What is “Lean Startup Methodology”?

Lean Startup Methodology is a scientific approach to creating a startup that can deliver a desired and demanded product, for a market both in a quicker time and with less cost. Lean methodology is specifically related to the start-ups, and how to grow the business with maximum acceleration – but it can also be used by corporations.

Lean Startup Process Diagram

Lean Startup Process Diagram

The lean start-up also goes through 5 main principles with which every aspiring Entrepreneur should become acquainted (linking you to startuplessonslearned.com):
  1. Entrepreneurs are everywhere
  2. Entrepreneurship is management
  3. Validated Learning
  4. Innovation Accounting
  5. Build-Measure-Learn
The Lean Startup video will give you an introduction into how Eric Ries helps start-ups achieve extraordinary success through the application of his lean start-up methodology, and how he helps huge companies like GE innovate and create.

So, if you’re an aspiring entrepreneur, you should really watch this video and purchase Eric Ries’ book in understanding the underlying principles and values and how to turn lean methodology principles into action. It no doubt will help you go a long way in really understanding what it takes to win the entrepreneur game!

https://www.youtube.com/watch?feature=player_embedded&v=fEvKo90qBns

 

 

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