Scott Cook–the co-founder of a newly rising tech company, Intuit–redefines the lean start-up strategy by stating that this strategy is not only for start-up companies. The aforementioned strategy places emphasis on communication with the potential customers and experimentation involving trial and error of the product/service. The strategy is originally outlined for companies newly entering the market, but Cook claims his firm made successive gains from following this strategy even when it had already become successful.

Cook is absolutely right for stating that lean start-up is a versatile strategy that can be utilized even by firms that are already well on its way. The benefit of using the strategy is that the firm can minimize risks by being attentive to customer’s needs. This benefit is a factor all companies desire whether a start-up firm or not. In that sense, starting and maintaining a successful business is essentially the same; we all want to minimize risks for a bigger gain. Although the Harvard magazine article mainly regards this strategy to be intended for start-up companies, it is imperative to revise our preconception of the strategy for even successful companies fear risks.

(Image from http://lean.st/)

Nobel, C. (2013, February 25). Lean startup strategy not just for startups. Retrieved from http://www.forbes.com/sites/hbsworkingknowledge/2013/02/25/lean-startup-strategy-not-just-for-startups/