The Lean Startup: How the Entrepreneurs of These Days Practice Constant Innovation to Create Drastically Successful Businesses.

by alamin / 1 month ago


The Lean Startup

- Eric Ries

 

Eric Ries is an entrepreneur and author of the widespread blog Startup Lessons Learned. He co-founded and assisted as CTO of IMVU, his third startup, and has had plenty of startup catastrophes along with his career. He is a successful speaker at business events, has guided plenty number of startups, large companies, and venture capital organizations on business and product strategy, and he is also an “Entrepreneur-in-Residence” at Harvard Business School. The methodology of his book The Lean Startup has been written about in the New York Times, the Huffington Post, the Harvard Business Review, the Wall Street Journal, and many blogs. Currently, he is living in San Francisco.

 

The author, Eric Ries, wrote the book in the style of a textbook. That's why, in some places, it seems a little bit boring. He tried to explore the world of Entrepreneurship in brief.

American bestselling author Dan Heath quoted about this book, “Mandatory Reading for Entrepreneurs. It is also an International Bestselling Sensation Book. 

Is anyone looking to start their own business? Hand them over this book. This book is the best book on Startup and you will discover the lean method. Where you make mistakes but take lessons from them and never make them again. It will give you the blueprint to start your own business and grow it effectively and stand out among the crowd. 

 

 

5 Takeaways from “ The Lean Startup”:
  

1. Management Matters:

 A game-changing idea can only take your business so far. 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 long into the future.



2. Build – Measure – Learn Loop:

How you will create the product people want? Start with a build- measure- learn loop. Build a version of the product, see how the audience reacts, and then improve your product based on the feedback. The goal is to complete the loop as fast as possible. Companies that can get user input more quickly have a greater chance of surviving and adapting to change consumer preferences.



3. Keeps your plans lean and stay ready to PIVOT:

Traditional business relies on five years plans and elaborate schedules. Not here. Instead, begin with a strong vision for the product but only a loosely defined idea of how to get there. Each time you complete the build – measure – learn loop, be ready to PIVOT, altering your conception of the product or your strategy for how to get there. It’s important to be constantly learning and sometimes necessary to change course.


4. Make Every Mistake only once:

The Key to the lean startup model is that you will make miscalculations and wrong assumptions. But using the build–measure–learn mode, you will 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.  


5. Keep It Simple:
The heart of the lean startup is the pursuit of simplicity. Introduce the simplest version of your products first. Get rid of any unnecessary components in your organizations that operate under conditions of extreme uncertainty. Your organization needs the flexibility to weather that uncertainty and rise above it.

 In conclusion, I can say, I have read a good number of management, self-development and business books and I can say this is one of those books, which played an important role like a workbook or guidebook. I have gone through various parts to check the key learnings and then try them in my startup.

 

 

Related Post

kjikokok

1 year ago

okokoko

[ More ]