Best 7 Tips : How to Start Lean Startup


startuup
Businessman pressing an Startup concept button.

If you are thinking of starting a business or launching your new product or starting a new business from scratch, you are in the right place. 

Lean software development is already a popular term in the software industry. Lean software development is based on lean and agile principles. It’s all about optimizing your resources and minimizing the waste.  

The lean approach is also referred to as MVP  – Minimum Viable Product.

What is Lean Startup?

 A lean startup focused on starting small and at a very limited cost. Lean startups focus on minimizing waste. 

With the lean startup way, if your idea does, it will not be a huge loss. In this best tips guide, I will share with you important aspects of Lean-Agile. 

The core principles of lean-agile are to maximize the quality and minimize the waste.  There are many lean tools and business tips available for your business. 

And here are the seven best tips for the lean startup that you can use in your business.

  1. Customers Need 

If you build a product based on your assumption, then the chances are your business model will not work.

Test your assumption with real users. It is the key because if your assumptions are wrong, then you know early about it, before working on those ideas. 

Knowing the exact customers not only helps in setting up your business plan but also all the team members come on the same page. So the first important step is to understand what exactly customers expect by talking to the real users.

  1. The Minimal Viable Product (MVP)

Once you know, what are the customer’s requirements and what you need to build? It’s time to decide how you will build it.

The answer is with MVP – Minimum Viable Product approach. 

In simple words, the MVP is a very basic and early version of your actual product. And the idea about MVP – it will be used by the real customers so they can provide the feedback for future product development. 

And the two benefit of developing MVP

  • You team focus on the core functionality. So your team saves time by doing only what is necessary and important. 
  • You can release the product faster to your real customer. It means faster testing and faster feedback. 
  1. Accept Failure 

After you release your MVP to your customers, there will be two possible outcomes. Your customers like the product or they dislike your product. 

By lean startup, you can fail early (if your product idea is wrong). It means you have enough time to start something new again for customers’ needs. It’s important to accept the failures.  It is a good opportunity if you fail because now it’s time to accept and learn from it.

  1. The Pivot

A Pivot is a structured step, corrections that are designed to test new hypotheses about your product. 

It is always good to pre-plan your pivot.  And there are many types of pivot you can use. Here I will highlight three of my favourite pivots.

  • Customer Need Pivot

This is important; you need to understand the customers’ needs. You do not want to spend your time building something that no one wants. If you continue to work on your assumption and spend lots of money and time, then it’s not a lean startup. 

You must understand the problems you are trying to solve for your customers and then you should try to build a product around the customer’s problem. 

  • Customer Segment Pivot 

In case your product does not work for your initially targeted customer, but with others, it is working well. So you have to change the positioning of your product. 

  • Value Capture Pivot 

This pivot focuses on how you will generate revenue.  This is for your business and its value. When you ask this question to yourself how you will make money in your business, it will impact the product, sales and marketing.  

Remember, without profit; there is no business. So you can not ignore this at any stage.

  1. Continuous Improvement 

Continuous improvement is the heart of agile. You have to improve your product continuously as per the feedback.  In addition to the minimising waste and improving quality, lean focuses on building a culture for the team.  

One of the important aspects of all of your team members enables them to pursue more opportunities to improve their work for continuous improvement.

  1. Build, Measure, Learn

You can apply Build-Measure and learn on your business at any stage.  You can use the build measure and learn approach on your new or existing product or on other areas of your business like – service, management review or enhance new features in your product.

The goal is to find the quickest way to iterate in the Build, measure and learn cycle. With this cycle, you are actually looking to validate an idea if it’s required by the customers or it’s based on your assumptions. 

  1. Focus to Deliver Fast 

You should focus on delivering the product fast to your customers. Learn to deliver it faster, and there are many good reasons behind this.

It allows you to fail fast. It means you can change the idea of your product if required by the needs of your customer.

The other important reason to deliver fast is it allows you to improve your product. 

Conclusion 

In the end, you need customers for your product. And without customers, you can not sell your product. To understand the need, their pain points and then deliver it to them.

Keep improving your product for your customers by using the core values of the lean-agile – By improving the quality and by minimising the waste.