The Lean Startup

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“Startup success can be engineered by following the process, which means it can be learned, which means it can be taught.”

Eric Ries

Founder of the Lean Startup theory

Author of "The Startup Way."

Overview

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Too many startups begin with an idea for a product that they think people want.

• They then spend months, sometimes years, perfecting that product without ever showing the product, even in a very rudimentary form, to the prospective customer.

 

When they fail to reach broad uptake from customers, it is often because they never spoke to prospective customers and determined whether or not the product was interesting.

 

When customers ultimately communicate, through their indifference, that they don't care about the idea, the startup fails.

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What is Lean Startup?

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The Lean Startup is:

• A method that teaches you: how to drive a startup; how to steer and when to turn; when to persevere and grow a business with maximum acceleration.

• An approach to new product development that is based on a set of tested and proven principles.

•  A scientific approach to creating and managing startups and getting a desired product to customers' hands faster.

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​It is:

 

• A concept and method used to found a new company based on the Lean principles, or to introduce a new product on behalf of an existing company.

  • The method advocates developing products that consumers have already demonstrated they desire, so that a market will already exist as soon as the product is launched.

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• A new, field-tested philosophy that provides you with a toolset to minimize failure and increase your chances of success.

  • Learn why some companies, of different size, scope of operations, and industry sector, from financial services, to social media, to large corporations, are using this revolutionary technique.

 

• A company built and operating based on the principles of Lean Thinking:

  • Produces clearly defined outcomes

  • Demonstrates tangible benefits

  • Measures results using new ways of thinking and working.‍

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Why Lean Start-up?
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“By 2021, more than 50% of established corporations will be leveraging Lean Startup techniques at the business level to increase the pace and success of business transformation.”

Gartner

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​Organizations of all sizes are embracing the lean start-up to help them:

• Take product and service ideas further

• Place many small bets, instead of few large ones. 

 

This helps organizations:

• Improve their likelihood of finding the right market fit for new product and service ideas

• Avoid wasting time and money on the wrong ideas or doing nothing at all. 

 

The concept of lean start-up supports the quick, cost-effective testing of the assumptions underpinning a product or service idea. 

• It is about designing experiments and observing how customers respond to new products, services, or trends in the real marketplace, and not just what they say.

• It empowers managers to make better investment decisions, supported by what customer behaviour tells us.

 

Embracing the philosophy, tools and techniques of the lean start-up:

• Empowers organisations to build, measure and learn faster

• Helps organisations to survive and thrive in the 21st Century’s global economy and marketplace.

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