Have you ever thought why even the best-laid business models with great investments failed? There are two main reasons for this:
1. Under conditions of complete uncertainty, where startups operate, classical management methods don’t work.
2. When startupers understand that traditional management approach doesn’t work, they abandon all management tools.
Lean startup concept is a scientific approach for building a new product.
Basically, Lean startup helps to avoid spending huge amount of money and efforts to create an unnecessary product. According to the book, at the initial stage of development, a startup needs to be flexible to learn from the mistakes and as quickly as possible to check the hypotheses to avoid large expenses. A core component of this methodology is the build-measure-learn feedback loop. The first step is understanding the problem that needs to be solved and developing a MVP to begin the process of learning as soon as possible. Once the MVP is established, a startup can measure and learn cause and effect question.
Over time a lean methodology has become very popular not just among startupers and not within the IT industry. Using the Lean Startup approach, companies can create order not chaos by providing tools to test a vision continuously. Lean isn’t simply about spending less money. Lean isn’t just about failing fast, failing cheap. It is about putting a process, a methodology around the development of a product.
“The Lean Startup by Eric Ries is the greatest business book. A must-read for any manager or leader. It teaches you how to build a company and focus on the key aspects that will make it successful. It dives deep into case studies and walks you through exactly what to do. It kills startup myths and gives you specific tactics to help you dominate.”
“I make all our managers read The Lean Startup.”
"Eric has created a science where previously there was only art. A must read for every serious entrepreneur—and every manager interested in innovation."
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