While evidence-based or lean startup has become the most successful way to start a new business, most textbooks still don’t explain the subject. The majority of entrepreneurship training now uses this early validation of a product or service by an end user as accepted practice. Surprisingly, there is no single resource to use as a reference to understanding the concept. As a result, this new anthology of smart or lean startup sources has been written to help entrepreneurs understand the most important change to entrepreneurship education in fifty years.
No longer does an entrepreneur have to struggle with time and money, only to fail post-launch. Using lean startup, or evidence-based entrepreneurship, anyone can become successfully self-employed. Building on proven success from Silicon Valley, the book details the best way to launch a new venture today. By reading this book, you will:
1. Learn the power of the Business Model Canvas (BMC) and its nine components.
2. Invest time searching, finding, and executing an idea before spending money.
3. Discover how validated learning trumps all other ways to start a new business.
4. Understand the importance of the product/market fit (a problem and its solution).
5. Establish demand by really listening to the customer then fund, expand, and scale.
6. Test the minimum feature that demonstrates a unique value, and just start.
Lean or smart startup entrepreneurship is a scientific approach to creating and managing startups. Simply stated, it is validated learning. The main reason products/services fail is because they don’t meet customer needs in a way that is better than alternatives. If startups invest their time into building products or services “iteratively” to meet the needs of early customers, they can reduce the market risks and sidestep the need for large amounts of initial funding, and avoid product launch failures. The startup begins with a basic product known as the minimum viable product (MVP) that allows the startup to learn market responses with little investment in development.
Title: Understanding Lean Startup: Evidence-Based Entrepreneurship
Author: Clinton E. Day
Genre: Non-Fiction, Business
Formats: Paperback & eBook
Published by: BookLogix
Pub. Date: Aug. 1st, 2016
Number of pages: 121
Purchase at: Amazon.com, Amazon.co.uk, Barnes&Noble, Kobo and iTunes
Book categories: Home