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I’ve read “The Lean Startup”, written by Eric Ries.

Too many startups these days begin with an idea for a product that they think people will use or what will break through in the markets. While making new products, people often tend to forget the most common parts. They spend huge amount of time on creating, crafting, and making the product flawless without ever even showing the product for actual customer.

In The Lean Startup-book, all main parts follow a certain method. These methods have been divided to five different principles, which are

1. Entrepreneurs are everywhere
2. Entrepreneurship is management
3. Validated learning
4. Build-Measure-Learn
5. Innovation accounting

The main point of this book is to provide a reasonable approach to creating and managing startups and getting desired product to customers’ hands faster.

 

”The Lean Startup method teaches you how to drive a startup-how to steer, when to turn, and when to persevere-and grow a business with maximum acceleration.”

 

 

1. Entrepreneurs are everywhere

First of all, the concept of entrepreneur is often misunderstood. You don’t have to work in a garage to be in a startup. Entrepreneurship could be defined as a human institution designed to create new products and services under conditions of extreme uncertainty. This includes every possible action made by human towards the some kind of a product which helps other people to solve some kind of a problem. You may be creating brand new components for faster PC with your friends, you can own a casino or ice-hockey team. Nevertheless, you are an entrepreneur.

Every people passing by could be an entrepreneur. That’s why if you’re interested in business and things it keeps inside, you should be expose yourself to new connections. For example, JES (Jyväskylä Entrepreneurship Society) is very good opportunity to meet other entrepreneurs. Building own connections and networks will help you on something, sooner or later!

 

2. Entrepreneurship is management

A startup is not an actual product of some company. Entrepreneurship is all about the people working behind the products. The product will look like they want, it will behave like they want. That’s why company’s management is really important. In the big picture, maker of the certain product,  a startup needs to associate with venture capitalists, business angels, customers and so on. Entrepreneurship include always communicating with other people.

 

3. Validated learning

The main purpose of a startup is learning how to build a sustainable business. It’s not only about making some money or finish some products. And what is the easiest way to sustain your product? Experimenting, testing, asking from the customers and talking with bystanders. The more opinions you collect the more accurate your product can be.

For example our TBS project. If huge amount of potential customers wants introductions with huge, visible letters to the wall, maybe we should consider that as an option even though that idea is really stupid in our opinion. We are making the products to our customers not for ourselves. Always listen to a customer and learn.

 

4. Build-Measure-Learn

As in previous part, listening the customer will guide you to successful product. Turn your ideas into products, measure how customers respond and what they would change, and then learn whether to pivot or persevere. All successful startups processes should be geared to accelerate that feedback loop. You need to always remember: without customers you have no potential product!

 

“Think big. Start small. Scale fast.”

 

 

 


5. Innovation accounting

To improve entrepreneurial outcomes and hold innovators accountable, we need to focus on the boring stuff: how to measure progress, how to set up milestones, and how to prioritize work.  This requires a new kind of accounting designed for startups and the people who hold them accountable.

The fun part is to throw some ideas onto paper and keep the conversation on. After that things will become more trickier. Without proper goals and other measurable things working towards a successful product is much harder.

”There’s never been a better time to innovate”

 

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