ENLISTED TO ENTREPRENEUR By Vicki Garcia veteransinbiz@gmail.com
The Lean Startup Methodology During the pandemic, while everyone is out of the office, starting up a business seems like a promising idea. But deciding the kind of business is an important step which no longer depends on what you want to do, but rather what customers want. That’s the concept behind “Lean Startup.” “Lean startup” is a new way of approaching a startup enterprise. There’s lots of info on the internet about it due to its use by many highly successful new businesses. Wikipedia says, “Lean has nothing to do with how much money a company raises; rather it has everything to do with assessing the specific demands of consumers and how to meet that demand using the least amount of resources possible.” Translation: Find out what your customers want first before you build a whole company around what you think your customers want.
Proof That Repackaging Old Ideas Works LS is a methodology for developing businesses and products, which aims to shorten product development cycles by adopting a combination of business-hypothesisdriven experimentation, iterative (this is a favorite word meaning repeated) product releases, and validated learning (another new phrase much embraced). The central hypothesis of the Lean Startup methodology is that if startup companies invest their time into repeatedly building products or services to meet the needs of early customers, they can reduce the risks and avoid the need for large amounts of initial project funding and expensive product launches and failures. Not A New Idea. Lean Startup’s popularity is due to the success of Eric Ries’ bestselling book, The Lean Startup, published in September 2011. The book quickly took off on Amazon. com, selling over 90,000 copies in ten months.
Lean Startup
Find out what your customers want first before you build a whole company around what you think your customers want. 38
WWW.SanDiegoVeteransMagazine.com / FEBURARY 2021