This learning can be validated scientifically, by running experiments that allow us to test each element of our vision. They exist to learn how to build a sustainable business.
Startups exist not to make stuff, make money, or serve customers. Read MoreĪ startup is an institution, not just a product, so it requires management, a new kind of management specifically geared to its context. You don't have to work in a garage to be in a startup. It will have solved real problems and offer detailed specifications for what needs to be built.
By the time that product is ready to be distributed widely, it will already have established customers. If it is successful, it allows a manager to get started with his or her campaign: enlisting early adopters, adding employees to each further experiment or iteration, and eventually starting to build a product. The question is not "Can this product be built?" Instead, the questions are "Should this product be built?" and "Can we build a sustainable business around this set of products and services?" This experiment is more than just theoretical inquiry it is a first product. The Lean Startup methodology has as a premise that every startup is a grand experiment that attempts to answer a question. It is about putting a process, a methodology around the development of a product. Lean isn't just about failing fast, failing cheap. Lean isn't simply about spending less money. Using the Lean Startup approach, companies can create order not chaos by providing tools to test a vision continuously. They take a "just do it" approach that avoids all forms of management. See what the media has to say about entrepreneurial management.The lack of a tailored management process has led many a start-up or, as Ries terms them, "a human institution designed to create a new product or service under conditions of extreme uncertainty", to abandon all process. Filled with in-the-field stories, insights, and tools, The Startup Way is an essential read for managers, executives, and entrepreneurs trying to meet the demands of modern organizational work. In this groundbreaking new book, Ries lays out a framework for entrepreneurial management, a comprehensive approach today's leaders can use to drive sustained growth in a highly uncertain environment. In his book The Lean Startup, Eric Ries laid out the practices of successful startups – building a minimum viable product, extensive customer-focused and scientific testing based on the "build, measure, learn" method of continuous innovation, and deciding whether to pivot or persevere. Entrepreneur and founder of the Lean Startup movement, Eric Ries reveals how startup principles can be used by organizations ranging from established stalwarts to early-stage upstarts to drive innovation and growth to become truly modern companies, poised to take advantage of the enormous opportunities of the 21st century.
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