This blog is for people who wish to start or grow a business using lean methods.
What is Lean methodology? Toyota. Lean manufacturing was developed after World War II by Taiichi Ohno for Toyota Motors with the idea of increasing efficiency by reducing waste and integrating continuous improvement. Lean ideas have spread into many industries, including software development where it is also known as Agile. In regards to business, in 2011 Eric Ries wrote a best-selling book, “The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses.” That book inspired me to start this blog.
The idea behind lean business startup is to fail fast. Create an MVP: Minimal Viable Product. Get it in the hands of potential customers and get feedback. Pivot (make adjustments) and repeat. It’s the scientific method. Your business idea is a hypothesis. You perform experiments to test that hypothesis. If you’re correct, you have a viable business.
Lean methodology reduces the risk of business startup. You make a minimum investment, test the market, and if the demand is not there then you haven’t lost as much. And you can use the feedback to find an offering that will be successful.
Lean methods will help you bootstrap: build a company from the ground up starting with your personal savings and cash coming in from first sales. Lean will get you to the first sale quicker with less money. This would let you start a business in your spare time as a side hustle while keeping your current job. If your marketing experiments are successful, then you keep growing until you can do it full time.
This blog will help you get started using lean methods in your new or existing business. Click the Follow button on the top right to be sure that you don’t miss any of our new posts.
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