Lean Startup

I am absolutely aware that no business got success without suffering from the odds and breakdown at various stages of business development.  Where we are standing right now is the pool of competition. Today’s Entrepreneurs face massive challenges and difficulties in starting any businesses not to sustaining their particular ventures. According to the Small business Organization only about half of the businesses started and survived by the five year mark only. Which business has started without any hurdles?  Almost every business has got some hurdles in their starting stage of business.

Today’s business is failing because often the entrepreneurs who start the new ventures don’t have the enough skills to build them into sustainable businesses. For example a software engineer may have developed the next WhatsApp, but if he doesn’t understand how to structure it and run a business, his chances of long-term success is less. So how do we help more new businesses be successful? We need to think about alternative approaches to entrepreneurship with Lean Startup Approach which will be very beneficial to entrepreneurs.

As said by scientist Albert Einstein “Strive not to be a success, but rather to be of value”. We must rather value our business strategy by following proper rules and regulations then and then only we can achieve the success in our business.

Here are a number of points behind why an alternative way of entrepreneurship is required.

1) Only the key measurement should be included don't tell the whole story.

Many entrepreneurs, investors and academics point at two metrics when evaluating entrepreneurs: the number of businesses they have started and the number of exits they have had. Those are important, but they shouldn’t be the only targets. How many were profitable? How long were they in business? All this points have to be taken care while starting up a new business.

2) Human Resources are required in startups.

In any business startups people and the resources are required and the established entrepreneurs are always talking about how hard it is to find people who have the flexibility and ideas to work in a new venture environment.

3) We need to eliminate the breaks from business.

Jay Myers, the founder and CEO of Interactive Solutions Inc.and author of hitting the curve Balls, said how he started his company without a real business plan. The problem wasn’t that he couldn’t get funding to get his business off the ground; it was that he started doing really well. He describes how he began to grow broke as he didn’t know how to do the forecasting and budgeting for a rapidly growing business. This happens in every businesses of today’s world because every business has some sort of problems

The main reason that startups fail is that they launch with something that are not enough of us want. Before the model and products can be adjusted, the entrepreneur has burned through his resources. The lean startup model has done a lot to improve new venture concepts earlier in the development cycle, which has helped improve the likelihood of customer success. But companies with compelling business models still have a failure rate that is too high.

In this crowded corporate world, everything is not hunky-dory.Businesses exceed standard protocol to overcome market competition, at times they stoop too low to accomplish their strategic goals.You may not like it, however such things do happen, and are happening.

I’m absolutely against the idea of scaling up,using unethical means! That has never been my way of conducting business.

There are examples galore, which suffice the fact that if you are equipped with brilliant knowledge, qualities, you will surely embrace success through even ethical means.

New businesses, companies, products, services, and first generation businessman do encounter competition.

Don’tignore the facts

A comprehensive research carried out by a globally famous business school reveals horrible data pertaining to the success of new companies, lean startup.In his research, Harvard Business School revealed that about 70% of the startups fail to live up to the market expectations, forcing them to shut their shops.

Why you should not undermine the new phenomenon

Market analysis, comprehensive research on the fate, functioning of startups, drove industry experts to come up with a theory that can withstand market competition – lean startup.The beauty of this theory is – it’s tailor-made for new companies, products, services, businesses… You just can’t undermine the fact that businesses are drawing huge benefits from the historic theory, enabling them to generate profit, expand business, and live up to the market expectation.

In plain terms, it’s a methodology, system, rendering emphasis on measures intended in the shortening of the product cycle. It’s a business centric hypothesis focusing on an amalgamation of business hypothesis driven experimentation, evolved through research and development on startups, their business challenges, funding mechanism, and market among others.

That really sums up the significance of the new age phenomenon, transforming the fate of companies galore.

The Lean Startup is not just about how to create a more successful business it is about what we can learn from those businesses that helps you to really improve almost everything we do. These principles applied to management programs, to health care, and to solving the world’s great problems. It is an ultimate answer to the question that how can we learn more quickly what works and what not works? Therefore we help new venture in the business world acquire these methodologies.  

This method provides scientific services for creating and managing startups and gets a desired product to customers' hands faster. This method teaches you how to drive a startup-how to turn when to turn, and when to persist-and grow a business with maximum speed. Lean Startup is a principled approach to new product development. The road map for innovation for the twenty-first century is that the ideas in the business will help us to create the next industrial revolution.

Too many startups begin with an idea for a product solution that they believe with people’s needs. They then spend many weeks, sometimes many years perfecting that product or service solution without having ever before showing the product, even in a very basic form towards the potential customer. When they fail to reach broad customer base from customers it is often because they never spoke to prospective customers and determined whether or not product was fascinating.

Principles of this amazing business strategy include the following points.

Entrepreneurs are tending to be everywhere you go.

Entrepreneurship is actually Managing.

Confirmed Understanding.

Development in Information technology.

Build-Measure-Learning.

A simple adage succinctly says it all - “Go with the wind. Otherwise get ready for the repercussions”!!! That’s absolutely true in many scenarios. Fully applies on enterprises too.

The emergence of lean startup methodology has been a game changer for many startups, giving a new lease of life to their business objectives. Changing market dynamics require tailor-made methodology to push your brand to the next level and surmount a wide array of challenges, including brand positioning, pre and post sale challenges, future.

Understanding the significance of lean startup in building a startup brand

A comprehensive research was carried out on different business processes integral to the smooth operation of startup enterprises, including sales and marketing, customer care, finance, HR, and IT among others before formulating a dedicated lean startup methodology. Why? It was necessitated as startup’s challenges; goals are different from established brands.

The startup focused lean startup methodology is tailor-made for startups. Let’s focus on some of its significance:

Addresses challenges, including existing and impending.

Scalable methodology.

Brings in value factor in the system.

Market focused products and services delivery model intended for early customers.

Good return on low investment.

Facilitates in establishing a brand.

 “Checks and Balances” system is also an integral part of the lean startup methodology intended to identify bottlenecks, challenges.

The strategic hypothesis recommends that startups stay lean to remain in competition. Lean here refers to strong enterprise qualities-remain agile, draw lessons from mistakes, bring change immediately and stay fit for market competition.

Research on lean startup methodology indicates that for a startup, there are only two priorities-establish as a brand and enough money in the account to run the business successfully.