source: http://theleanstartup.com/principles
A very popular trend among entrepreneurs today is the “Lean Startup”, which is essentially a methodology for building a successful startup. One of the main characteristic that attracts me to this idea of building a “lean” startup instead of a traditional business is the methodology’s emphasis on using numerous ways to measure and test the success of a new firm’s product. Moreover, this idea stresses that companies should not only keep track of its assets, liabilities, or cash flow, but also the different things that they have learned about their products/services over time. This idea made a lot of sense to me since keeping track of the lessons a company learns can be used as a key tool for the firm to innovate and change their products/services so that it attracts more consumers. However, like any new thoughts or ideas, the Lean Startup has received its fair share of criticism. For example, there is a strong argument in the technology sector for the “fat startup”. But unlike the Lean Startup, which provides an encompassing guide on how to run a startup, this idea only focuses on the ways in which a starting company should allocate its resources. Nevertheless, I still believe that the “Lean Startup” is a very new idea that should be followed with caution since unlike traditional ideas, the results of following this methodology is not yet very visible.
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