Dropbox, Grockit and Votizen
Eric Ries is renowned in the world of business and entrepreneurship. Ries created “The Lean Startup” approach for businesses, especially startup companies. His approach is based on validated learning, the scientific approach, iterative product releases and the use of customer feedback. When it first started, the Lean Startup Movement helped many young companies in Silicon Valley succeed. Some prominent examples of the successful startups in the United States that adopted the Lean Startup principles include Votizen, Grockit and DropBox. All three of these companies rely on the use of Ries’s lessons to drive their business.
Succeed with the Lean Startup
As an entrepreneur who starting out, you need to use this approach in your business. First and foremost, everything that you do should be aimed at your prospective customers. Using the Lean Startup approach, you will be able to make products or provide services that meet the demands of your customers. This is the only guaranteed way to success, by meeting and surpassing the needs of your customers. With the Lean Startup principles, the success of your business will not require a tremendous amount of seed money or expensive product launch events.
Before you venture into any business, you need to establish the viability of your business plans. You need to find the minimum viable product. This simply means that you have to conduct intensive research to find out if there is enough demand for your product in the market. For instance, Zappos is a successful company that made use of this principle in its formative days, and its business has been able to grow due to the constant demands of its products.
Iteration is also a common and important process in the business environment. As an individual or as a team, you can continue to change aspects of your business to make it more customer-oriented. If you realize that your business is heading in the wrong direction, you should be able to make changes rapidly. By using Ries’s pivot system, you can adopt a structured way of correcting any problems by systematically testing a new strategy or product before actual implementations. The success or failure of the new strategy or product will determine if the product or strategy is going to succeed in driving the company forward.
Success of your business rests squarely in your hands; learn from startup gurus like Ries, and you will reap the fruits of your labor.
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