There creation of business is simply because there are wants or needs that consumers that are not fulfilled, that is, the productions are there to fill in the gap, attempt to create most value proposition that fits the need of the customers. When I was browsing through the blogs, I’ve found Victoria Yang’s Blog regarding lean-start up.
When we create value proposition, we attempt to fulfill the customer’s need as much as possible to add most value to the product
As Victoria had stated that “there will be major unknowns that the company will have to learn about and then adapt to”. Indeed, customers mind are un-readable and not predictable, that is simply human kind. Thats why there is the existance of marketing in attempt to position the product into the customer’s mind. As such, it is impossible to have a clear idea if it fits the need of customer from the start. Indeed, a traditional 5 year plan would rarely succeed from the start, where as the lean start up, which uses the minimum cost to create prototypes, having constant feed back from customers, in order to generate a product that fulfill the customer’s need (value propostion), then hence, profitability.