What everybody should learn from... "LEAN START UP"​ (ERIC RIES)



“If you only have a determination, brilliance, great timing and, a great product, you can achieve fame and fortune”. A related mistake is that ideas are wonderful. Generally, people have to hesitate to reveal their ideas in public. There is a constant fear that someone will steal your idea. But the truth is that an idea is never that good. During a lifetime, the average person has at least 20 astonishing ideas that could be turned into successful startups.


The reality is that execution is the most important part of this equation for success.

The Lean Startup method shows you how to run a startup, how to lead when to turn, and when to drive forward and grow a business with the most extremely increasing speed. It is a principled approach to the development of new products.


This is attempting to implement a structured approach to evaluating success at a startup. A startup has a true north, a vision thereof. It uses a plan that involves a market model, a product road map, and a view of the investors, rivals, and clients. The result is a strategic outcome. Products alter constantly (Motor tuning). Occasionally, the plan switches (pivot). In some cases, the vision improves.



PART I: VISION


1.  START


The Lean Startup method takes its name from Toyota's assembling upset. Toyota transformed into a prospering worldwide organization by concentrating on the following principles:

  1. Take advantage of the knowledge and creativity of the individual worker.

  2. Decrease of bunch size

  3. Utilizing just-in-time production and stock control

  4. Accelerating process durations

This methodology featured the contrast between esteem age conduct and waste, rules that the Lean Startup method brings to the setting of business enterprise.

Ries, in this way, solidly accepts that the accomplishment of a startup isn't really about having an extraordinary idea, or even being in the right place at the right time; it is about following the right processes. The Lean Startup model is based on:

  1. Fast cycle times

  2. Concentrate on "what the client needs" (without asking first)

  3. Utilization of logical ways to deal with deciding.

In this way, the Lean Startup business model is a novel way to deal with "new product" advancement and development that centers around quick emphasis, client understanding, innovative vision, and ambition, all the while.

2.  DEFINE


Innovation isn't only the worry of startup business visionaries. There are managers in large companies whose job it is to head up an initiative for another item a whole new venture, sometimes they are called intrapreneurs. As businesspeople, most managers in this setting are the visionaries. They are willing to take risks and try out new ideas and solutions to develop the venture. These intrapreneurs share a lot with entrepreneurs, and for this purpose, going ahead, we'll utilize the term entrepreneur to apply to these people too.

While we're on definitions, what is a startup? Ries gives the accompanying definition: " A startup is an institution that creates new products or services in an atmosphere of uncertainty."


3.  LEARN


The Lean Startup model has a unique idea that Reis refers to as "validated learning". This way to deal with learning is more exact, concise, and faster than conventional modes.

To comprehend what this idea implies, we should highlight which of our efforts are creating value and which are generating waste. Instead of consistently attempting to refresh and improve a product, we must determine if customers are interested in our product. Anything that does not provide value to the customer is a waste.


But how can we know what our customers value in our product? The key is to launch a low-quality early prototype of the product as quickly as possible to get real data. So, the sooner you can get data on what your customers think, the sooner you can improve your product and the less waste you’ll have in the development process. Don’t bother with interviews. Get empirical data. Do experiments — many experiments.



4.  EXPERIMENT


From the Lean Startup's viewpoint, an experiment isn't only a line of hypothetical research, it is the first version of the product.

Experiment with real products so you'll have a head start if the examination is effective. When the product is prepared for more extensive distribution, it will as of now have a center of built-up clients. Also, clients create input, so makers can gain from this for the following emphasis of the product.


In any case, before going off half-cooked there are a couple of things you have to consider. On the off chance that buyers don't think they need your product; they won't get it. What's more, regardless of whether you think they'd purchase your product, you should be fit for building it. Now and then developers want to go directly to their idea, without verifying ahead of time to check whether anybody would get it.


The Build-Measure-Learn feedback loop is crucial. You need to begin someplace, so start with the Minimal Viable Product (MVP). This is the most fundamental form that can experience the fabricate measure-learn circle. At that point, it's an ideal opportunity to assess the procedure and most likely rotate. Planning is a valuable procedure just to the extent that what's to come is unsurprising. In an unsteady and evolving world, the advantage goes to those who can pivot as the occasion requires.


PART II: STEER


1.  LEAP


The goal is to complete a feedback loop within the shortest possible cycle time.