Either ways, by the time they realize they’ve created something that nobody wants, it’s usually too late. Entrepreneurs tend to either adopt a “just-do-it” approach, or suffer from analysis paralysis and spend too long trying to “perfect” their plan or product. They can’t predict which approach works best until they put them to the test, yet it’s inefficient to test all the options via trial-and-error. Since startups’ products or services are new, they don’t know who their clients are. just-in-time inventory management, small batch sizes, accelerated cycle times), to the specific challenges of entrepreneurship and startups. The Lean Startup integrates ideas from lean manufacturing (e.g.

But, entrepreneurship is management, since a start-up is basically an institution that needs to be managed. Many people think that management is dull and boring, while entrepreneurship is exciting and cool. a HR manager doing creative recruitment, an IT manager developing a new solution – is as much an entrepreneur as a founder of a new company. corporation, government, non-profit) nor industry. An “intrapreneur” in a big company – e.g. Entrepreneurs are EverywhereĪ startup is “a human institution designed to create a new product or service under conditions of extreme uncertainty.” It’s not defined by company size, organization type (e.g. There are 5 important principles that underlie The Lean Startup method. Startups face unique challenges, which call for not just “ordinary” management, but entrepreneurial management.

In this summary, we’ll give a synopsis of the lean startup concept and key principles/processes.ĭo check out our complete book summary bundle or read the book to get the full mojo! It’s about developing new products or services successfully under conditions of great uncertainty, reducing wastage, and building an adaptive organization that can thrive in a rapidly changing world. Eric Ries’ “The Lean Startup” is not just about starting a new business. Yet, with the right processes, their success could be significantly improved. Each time startups and innovations fail, huge amounts of money, time, passion, and skill are wasted.

The lean start up book