A Systematic Approach to
Building Successful Businesses
We live in an age of unparalleled opportunity for innovation. Yet, most products still fail.
The more interesting statistic isn’t the failure rate but the fact that, of those products that succeed, two-thirds report having drastically changed their plans along the way.
So, what separates successful startups from unsuccessful ones is not necessarily starting with a better initial plan (or Plan A), but rather finding a plan that works before running out of resources.
Up until now, finding this better Plan B or C or Z has been based more on gut, intuition, and luck. There has been no systematic process for rigorously stress-testing a Plan A.
That is what a Lean Startup is about.
What is Lean Startup?
Lean Startup is a term trademarked by Eric Ries and represents a synthesis of Customer Development, Agile Software Development methodologies, and Lean (as in the Toyota Production System) practices.
The term Lean is often misunderstood as “being cheap.” While “being Lean” is fundamentally about eliminating waste or being efficient with resources, that interpretation is not completely misguided because money happens to be one of those resources. However, in a Lean Startup, we strive to optimize utilization of our scarcest resource, which is time.
A Lean Startup is an organization that maximizes learning about what’s riskiest in the business model per unit time.
Check out the resources below to learn more about lean startup:
- How to Identify a Lean Startup
- Bootstrapping a Lean Startup
- Do You Have Faith in Lean Startups?
- How Cooking Made me a better Lean Startup Practitioner
- Achieving Flow in a Lean Startup
- Scaling Flow in a Lean Startup
- How Yoga Made me a better Lean Startup Practitioner
- 3 Rules for Building Features in a Lean Startup
Want More Actionable Tactics for Applying Lean Principles?
Become a Practice Trumps Theory member (it’s free)
You’ll learn how to:
- Deconstruct your business model
- Identify what’s riskiest in your business
- Systematically eliminate risks through experiments