The Lean Startup: How Today's Create Successful Businesses in IT

The Lean Startup: How Today's Create Successful Businesses in IT

The Lean Startup: How Today’s Create Successful Businesses in IT

The first thing that everyone who wants to start a business will find out is disappointing statistics. According to world practice, 99.7% of all startups do not turn into profitable and successful companies.
For the first time, the method of lean start-up and the development of the enterprise was formulated in 2011. The idea was picked up by many novice businessmen, and now this concept is used throughout the world. The Lean methodology implies a careful and accurate expenditure of funds and resources through the use of scientific approaches before introducing new products, services, and ideas. In other words, the main hypothesis is formulated, then it is tested. Assessment of the result are carried out according to statistics and metrics, and if the idea is successful, it scales.
The peculiarity of the methodology is constant innovation in a business project. Most projects that failed were unsuccessful for two reasons. The project was implemented according to the classical methods of doing business, using a standard list of tools such as business planning, economic calculations, market research, and development of a business strategy. Creating a start-up, innovative business tools were not used and the enterprise development process was left to chance. There is a new way to launch business projects for start-ups. The method was based on the following base: Using a business model that is a scheme of 9 blocks, which involves identifying the strengths and weaknesses of a business idea, determining its growth vectors;
Feedback from the target audience and customers;
Flexible product development, testing, and innovation changes according to customer requests.
It should be meant that the basic product can be a failure. It is necessary not to give up, but to identify weaknesses that need to be eliminated. Continuous innovation is the main essence of Lean Startup.
It is important to understand in the first stage of production by this methodology.
In the XXI century, traditional ways of doing business do not always work, the market is developing rapidly, and if you do not stay in trend, the product may cease to be in demand and freshly baked business will sink. In order to stay afloat, it is important to identify weaknesses in time and eliminate them. To this end, the product must be constantly tested and upgraded, according to the needs of the target audience. The lean startup business plan model implies the rational use of resources. The first tests and modernization of the product occur at the stage of its development, even when the idea appears. But it is necessary to work not only within a certain model but to consider the possibilities of product development from different sides as well as be ready for innovations of various types. Lean Startup strategy requires to observe the trends and involves the development of the final version of the product together with the consumer audience. This allows you to save a significant part of the money and other resources when launching a new business project.
The term “social entrepreneurship” refers to a business model that includes charity and work on solving social problems of various kinds. This type of business involves channeling all profits into social development. A similar type of business — CSR (corporate social responsibility) — involves the return of only part of the profits for the benefit of society.
Today, there are two popular models of social entrepreneurship: Charitable sales-shops of goods or services, structures that transfer their profits to charitable funds;
employment issues — companies and firms that employ only citizens who have fallen into a difficult life situation. It is the principles of Lean Startup that have been adapted to social entrepreneurship, which allowed this type of entrepreneurship to gain recognition in the business community of the modern world. In addition, thanks to the technologies of lean start-up today in social entrepreneurship there is no framework.
It is possible to organize and conduct a variety of businesses based on different ideas. You should remember that you need to hear the audience, do not limit yourself. Social business can take the form of a Museum, a taxi, children’s educational institutions and any other elements of social activity. It is possible to open a social business on preferential terms, and often even the state itself helps in the development of the enterprise. Social entrepreneurship is the best area to implement the lean startup method, but this concept is also suitable for other types of projects. The main thing is to follow the basic principles of careful business with the target audience.
So, a lean startup assumes a 100 % influence of the client on the development of the proposed product. Thanks to the constant feedback from the audience, the company, based on the principle of Lean Startup, will be modernized and subjected to innovation according to the needs of society, and therefore will always be relevant. This way of implementing ideas allows companies not to stand, but to constantly develop.

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