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The Lean Startup – The Ideology Part I
As the grip of the entrepreneurial mindset strengthens the world today, it is no surprise that the impact of technology has infiltrated the business sector. According to statistics, more than 543,000 new startups were established from 2018 onwards. However, 42% of startups fail out of the total. In essence, most startups do fail for a wide range of reasons. Starting from running out of resources or at times simply because there’s no market for the product.
The Lean Startup is a business methodology that is being practiced across the world. The practice enables business models to become sustainable under alien conditions. The Lean Startup centers around a scientific approach towards startup management. The basic ideology behind the Lean Startup is to deliver a product to test its efficacy. Don’t worry we’ll get into its details in a bit:
Why The Lean Startup Methodology?
The inception of the Lean Startup methodology and its ongoing implementation is a testimony of its efficacy. The fact is, thousands of startups are created every day but not all of them can kick off or sustain in the long run. Most startups begin with an idea for an app that is put into motion under various cycles. This is expensive to sustain as the development of a mobile app is a long and arduous process. In fact, even if a startup is able to deliver a mobile application, there’s no guarantee that it’ll actually deliver the success you’ve imagined.
The Lean Startup essentially caters to the very idea of minimizing your costs while it helps you steer, turn and when persevere or grow a business with acceleration.
Here are some of the Features of the Lean Startup:
Eliminate Extreme Uncertainty:
Most startups today fall under the trap of extreme uncertainty as soon as they enter the market. Lack of existing market knowledge and practicality comes into play as they’re unable to decipher whether their product or service is headed in the right direction you are talking about uncertainty, so if it is present in the market, how do you tackle this?
Elimination of uncertainty is important as it allows you to actually focus on your product. A “Just do it” approach which is quite popular among startups will not work as you don’t really have a base to work on. The Lean Startup approach on the other hand focuses on providing you the tools to test your idea continuously without wasting your time and resources
Ask the Right Question:
The Lean Startup process has an ideology of conducting business that focuses on a set premise of asking the right question. Most startups focus on building the product which emphasizes the “Just do it” approach. The problem with this approach is that it isn’t exactly feasible to jump into a product’s development without the right kind of intel.
The Lean Startup methodology on the other hand focuses on the question, “Should this product be built?”. This premise opens up the debate about whether the product is viable or not. As entering the development of a product that is bound to fail doesn’t make sense, to begin with.
The Role of a Minimum Viable Product:
One of the reasons why the Lean Startup is a successful methodology is because of the role an MVP plays in the process. The focus is simply on a loop that the process works on, it’s all about the practice of build, measure & learns.
A Minimum Viable Product exactly offers you that. It’s a product that isn’t the final form yet it offers features that are to be expected in the final form. An MVP allows you to test the market conditions and allows you the make the decision whether it’s financially viable to move forward.
In a Nutshell:
The Lean Startup isn’t just a model that can help you achieve success in building your dream mobile application. Rather, it’s an ideology that can completely change your outlook towards how you approach a problem.
If you’re looking to build a mobile app then it’s high time you adopt the strategy. Perhaps you can start with hiring a remote developer? Give us a call and we’ll get you started with a system that follows a lean approach.
tagged: Lean Startup