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Build, Measure, Learn. Lean Startup: one way a business tries to not be swept away.

Build, Measure, Learn. Lean Startup: one way a business tries to not be swept away.
Thursday, 24 May 2018

Released in 2011, "The Lean Startup" by Eric Lies introduced a business method that allows newly created companies to grow at top speed in the business world. In the decade following the book publication, thanks its experimental, innovative nature, and ability to adapt to market needs, Lead Start Up  has consolidated as one of the most popular among big companies as Dropbox, General Eletric, and Zappos. [1] [2]

A recent study of 170 different organizations that have over $ 1 billion in revenue found that more than 82% use the Lean Start up methodology in some aspects of their business. [3]

But what is it? The Lean Startup strategy encourages entrepreneurs to create and design a prototype, a minimum viable product (MVP), launch it as soon as possible in the market, and then test it. The objective is to see the consumers' reaction, learn from it, and refine the MVP into a finished product. Doing this allows the business to learn what customers want by assessing specific consumers' requests in order to meet them and, at the same time, using the minimum amount of resources possible to do so. This methodology aims to perform cyclic experiments, in loop, spending the minimum amount of resources required and adopting an iterative approach to innovation with the aim of improving the energy and agility of organizations. [4]

But is be the right method for your start up? There are no ready-made solutions. Lean StartUp is just one of different techniques to encourage innovation, responsiveness and flexibility in today's companies. Certainly, before venturing into the adoption of a new methodology, you need to know how manage your business, experiences and methodologies in the best possible way, always keeping in mind your basic principles and the main objective. And, because a well-designed methodology is often not enough to be successful, you must know how to use it and manage it in your company so as not to risk being swept away by today’s ever-changing market. [5]

[1] http://www.lavanguardia.com/economia/innovacion/20180422/442864647314/startup-explorer.htm
[2] https://www.google.es/search?q=Dropbox%2C+General+Eletric%2C+Zappos+lean+start+up&oq=Dropbox%2C+General+Eletric%2C+Zappos+lean+start+up&aqs=chrome.0.69i59.2888j0j4&sourceid=chrome&ie=UTF-8
[3] https://hbr.org/2018/05/to-innovate-like-a-startup-make-decisions-like-vcs-do
[4] https://www.smartdraw.com/startups/lean-startup-the-right-strategy-or-fools-gold.htm
[5] https://www.digital4.biz/executive/innovation-management/agile-lean-startup-e-design-thinking-adottare-le-metodologie-non-basta-cosa-insegna-lesperienza/