Review of Lean Startup book. I read this book some time back and its concepts have helped me a lot. This book certainly has some useful insights that can be of great help for anyone who is thinking of starting a business.
Important Ideas:
Our perception, or say the preconceived notions, about companies, building a community and atmosphere that requires assumptions to be stated and validated quickly in order to effectively recognize and verify merit and growth hypotheses — all needs a different outlook to objectively discover how to transform a company’s vision into a viable business plan.
Lean Startup- Approach
The Lean Start-Up approach is not like the traditional ones where the usual customary companies spend a lot of cash without being sure of the market’s positive acceptance of its deposit. But Lean Startup, on the other hand, checks the waters then moves forward. The philosophy is quite simple. This system designs the products quickly, gets instant feedback and the upgrade hits the market at the earliest which saves hours of human resource and other such valuable resources. The Lean Startup is a practical viable way for any start-up.
Lean Startup- Real Life Example
If you want to know more about this method then I would suggest you read the whole book. In case your schedule is jam-packed to even skim the entire book then this summary might help you.
Even before I knew anything about Lean Startup, I witnessed these principles in my first job in a Communicative English Training company. In fact the company claimed that they were just two years old with hardly a hand full of employees. The school where I was deployed in the first year had four faculty members. We weren’t given proper course material or a syllabus. After a few weeks, the materials used for our training too dwindled leaving us to fend for ourselves. The following year we were taken to various schools along with company’s founder to strike a deal.
By this time I discovered that the company did not own proper training or course material, no official websites, neither a physical office nor a license, but all this was just a side project. All that the founder wanted was a MVP (Minimum Viable Product or, in this case a MVS- Minimum Viable Service). Yet, within two years there were around 30 employees and more than 7 paying schools service.
The founder knew what was important. He shunned all the fanciful ads and jumped straight into getting schools signed for the program. Every year he got the credentials from other schools and kept building the company. And then I quit that job and lost track of its plans and progress. But the pandemic must have hit them hard.
Lessons
- Don’t wait
- Check the changes in the market and keep yourself updated
- Formalities and ads will help only after a certain point in business( Not for all I should caution)
What can you do?
If you decide to start a business, probably should read this amazing book first. Start Lean much as you can, but don’t wait as well. Improvise on the go!
If you want to buy the book, get it here.
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Niceee
Thanks man