Top 5 myths about the lean startup
- Eric Ries is a serial entrepreneur and author of the entrepreneurship blog Startup Lessons Learned. The original version of this blog was posted here. The opinions expressed are his own. -
Most phenomenal startup teams create businesses that ultimately fail.
Why? They built something that nobody wanted. That sounds like a beginner’s mistake, but in the conditions of extreme uncertainty under which entrepreneurs operate, it’s challenging to innovate and find a market, to take risks and mitigate risk.
Almost two years ago, I left my operating role as the co-founder of a startup, out of an interest to help the entrepreneurship industry develop a more effective, data-driven way of building companies. During that time, I’ve worked with hundreds of entrepreneurs around the world and created a methodology for innovation now known as The Lean Startup.
The Lean Startup has evolved into a movement that is having a significant impact on how companies are built, funded and scaled. As with any new idea, with popularity comes misinterpretation.
Here are the top five myths about The Lean Startup, and the truth behind each misconception:
Myth 1: Lean means cheap. Lean startups try to spend as little money as possible.
One more myth to add-Lean startups rely on feedback from surveys,questionnaires and analytics to make informed decisions on their assumptions about customer development. This is a good start, getting out from behind you computer and talking to real people will reward you with unresolved problems you may not of thought of to help you get to a product-market fit sooner.
Brian Mcfarlane
http://www.productlaunches.co