In this digital world, you can start any business with a few clicks. You can launch your product or service. But the real question is, can you establish a quality product in fewer resources – means by saving your money, time and energy?
With the Lean Approach, you can do that. And in this article, I will share in detail about the Lean approach and how you can use it for your business to launch new products or improve the existing one.
Lean and Agile
The goal of lean agile is to deliver fast to customers. Lean is committed to delivering quality to customers through continuous improvement. It originates from the Toyota production system. Lean focus on the process.
Agile also focuses on building a better product, but agile has a different angle. The main focus of agile is not the process but building a better product.
Many Lean and Agile principles are similar. They both are relevant in their context. For example, they both say build a better product. And of course, Agile has a different angle as compared to Lean.
And here, you will learn the lean-agile approach to start your startup.
Let’s first start with the core idea of the Lean Agile approach.
What is Lean Approach
The lean approach emphasises on the business model and not on business planning. Also, the approach focuses on customer need so you can achieve the right product for the market.
And if you would like to start a lean business, you have to be flexible to change as often as necessary. The important thing with a lean-agile approach is to design a prototype that addresses your customers most pressing issues. And you should build this prototype as soon as possible.
Key Principles of Lean Approach
Here are the key principles of the lean approach which you can adapt in your startup .
Any business startup needs to learn and then validate their learning. It means learning, getting results, doing experiments on the relevant data.
Lean startup is about building a business model on customers’ needs. Does your product solve the issues for your customers? If not change and pivot to make sure its market fits.
Entrepreneurship And Management
If you are running a business or starting a startup, then you are an entrepreneur. And any business needs management and startup is not an exception.
If your startup is doing Task A and other times you are doing Task Z does not mean you are on the right track. You need to plan, and management plays a critical role here.
It is a practice to take the knowledge and use it to increase the efficiency of your startup.
Build, Measure and Learn
The build, measure and learn process is the key to a lean startup. It focuses on the minimum viable product (MVP). It is the key principle of the Lean approach.
In the build, measure and learn the process you start with customers’ needs. Once you know the key points only then build an MVP and deliver it to the customers for feedback.
Build, measure and learn is a kind of loop, and it means it should be repeated. It saves a lot of time, energy and resources for your startup. In this, you are trying to build a product that someone needs and not based on your assumptions.
Also, you are getting the feedback on your MVP from the customers so you can further improve the product, measure it and finally build a successful business.
Stage of Startup
Every business has a different path. In general, there are three key stages of your startup.
- Problem-Solution Stage
This is the first stage; it is all about the pressing issues and how you can solve it for your customers. And this stage starts with the customers’ needs because he is the one who is going to pay for it.
- Market Fit Product
Now in the first stage, you know the problem and its time to make a product in the form of MVP for your customers. Build a prototype and handover to your customers so they can use it. And get feedback from your customer and with continuous Improvement, build a better product for market fit.
- Growth Stage
Once you pass both stages, it’s time to enter in the growth stage. Startups might need to secure funds and need to understand the best marketing strategies so you can grow.
With the Lean agile approach and iterate product release, you are building a product for your ideal customers. And with this methodology, you are saving time, energy and all the resources.
At the initial stage, a startup needs to minimize their risks, and that’s where the lean methodology can help you to understand the different stages and the market needs. Once your customers are happy with your product, you can grow. That is the stage when you need to understand marketing strategies.
Hope you enjoy this lean-agile approach, and you can use it for your next startup