Critical Study of Lean Startups
A Lean Start up is low burn technology venture which has a combination of a quick software development and the customer development methodology. This approach is not a science rather it’s designed for launching businesses and products that truly depend upon gaining valuable customer feedback, scientific experimentation and measuring progress.
No doubt, 70% of start up businesses fails in the first 4 years. The reason behind this disaster is that there is no system for the business success. Thus, if you are thinking of starting up a business, it is certainly one of the most exciting things you can do lawfully. However, before you start you can read some books that help you organize your business like a thriving franchise.
Now, when it comes to talk about the Lean Startups – a Critical Study, this book is quite different. It was written by the Eric Ries, who focuses on organizations that are putting their efforts to make innovative ideas. Here are very important three sections that will give you a fair view about the book:
If a software developer spends 4 months on a high technology feature and the customers won’t even like it. Certainly, it becomes quite difficult for that person to cut the product as people do have an emotional connection to what they make. On the other hand, this is the phase where a pre- planning or disciplined approach can help. Before the start of manufacturing a product, it is best to show the feature in an alpha state to consumers which will save you a lot of time and energy.
In his book, Eric introduces Cohort analytic which explains that one looks at the execution of each group of customers that get in touch with the product and here every group is known as cohort. For the marketing of your business online, you can easily create ads which will enable you to see each group independently for best results. Thus, it can be said that it’s the most powerful concept which focuses on how money hides mistakes of organizations.
In today’s fast paced economy, the technical gurus and business people think that the product has to exist first. They believe that the infrastructure can follow but the profits have to come first. This is a fundamental law and so the companies also need to lay emphasis on customer satisfaction rather than just on the product. Therefore, vision is the assumption of what is the reason of existence of an organization.
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If you are considering building a start up, then you can take full advantage of this useful book. Further on, it will help your business to grow and expand in future.
Purchase Lean Startup book on Amazon