The Bare Essentials Of

“A LEAN STARTUP”

Karthik Ramanujam

These are my personal opinions on the subject and in no way represent that of any of my past/current/future employer

OriginThe Lean Methodology teaches you how to drive a company - how to steer,

when to turn, and when to persevere - and grow a business with maximum

acceleration. It is a principled approach to new product development.

It is based on the principles of lean production, a manufacturing methodology

that values a business' ability to change quickly

So why do startups fail?

1. Building a wrong product

2. Run out of Cash?

3. Not being able to build the right team

4. Lack of unique value propositions – Get Out Competed!

5. Pricing/ Costing issues - “Go to Market Strategy”

6. Poor Product

7. No Business Plan

8. Poor Marketing

9. Ignoring Customers

10. A Completely mis-timed product

Why do startups fail?

..and a whole lotta other

reasons

11. Lack of persistence

12. Disharmony on the team/investors

13. Failing to pivot/change direction

14. No mentors or advisers

15. CEO / Founder(s) unable to make decisions

Hang on. That's not all!

16. Out of control growth

17. Poor accounting controls

18. Not enough cash cushion

19. Operational ineptitude

20. Obscure or marginal niche

Now try this

Validated learning as a measure of progress

The Hypothesis

What lean

startups do differently?

You can’t argue with Validation!

Quotes:

Wait. That is an assumption. We need to validate that

Look at the board. Look at what we learned. You can't argue with validation.

Define it!

1. Validated learning as a measure of progress, because it favors experimentation over elaborate planning, customer feedback over intuition, and iterative design over traditional “big design up front”development.

2. Although the methodology is just a few years old, its concepts—such as “minimum viable product” and “pivoting”—have quickly taken root in the start-up world, and business schools have already begun adapting their curricula to teach them.

Must ReadsRob Fitzpatrick