The Most Important Business Movement of the Last Year
Unimaginative is the entrepreneur who hasn't invented something that no one wants to buy.The reality is that people don't want most of the things entrepreneurs dream up. Products struggle for acceptance, startups fail. It is more than common, it's likely. The most probable result.And why is that? Smart people, hard work. Isn't that supposed to lead to success? The kind of success stories that fills blogs, magazines and TV shows?It's an interesting question. We've known how to manage companies for a hundred years. Business schools teach us how to wring the last penny out of a suppy chain, optimize every process, capitalize on people's behaviors. And yet, billions of dollars of startup investment quite often produces heartache and failure. What's wrong with the process?Serial entrepreneur Eric Ries has come up with an answer, written a book, and spawned a movement that's capitalizing on his insight. The movement, and the book, is known as The Lean Startup.Eric's theory, which is hard to dispute, is that the primary reason for startup failure is building things that no one wants. His antidote is to create a process of continuous innovation designed to quickly create a sustainable business. The innovation is centered around validated learnings, which are arrived at by creating the minimum amount of product necessary to test your assumptions.The process continues iteration after iteration to the point that the entire organization becomes a learning mechanism for understanding and capitalizing on market opportunities.The result is the application of scientific process and advanced management techniques to the startup, an entity that to this point has operated by more seat of the pants flying than scientific rigour. And by startup, Eric means not just a guy working from his garage, but any part of a business or organization working to create something new under conditions of extreme uncertainty.If that at describes you, Take our free introductory Lean Startup Course and read the book.