The Lean Startup — Book Review
The Lean Startup — How today’s entrepreneurs use continuous innovation to create a radically successful business. This is one of the best lean startup books written by Eric Reis. The book mainly focuses on the idea of how startups struggle about finding a perfect business model.
While the established business can learn through their past about the market, dynamics, customer allocations, production, and resource, startups are out with no lesson from the past. It’s just their way of thinking which can take them to the way of success or failure. You may find a countless number of business consultants for startups but this book in its own way can guide you through a lot.
The book teaches you how to drive a startup, how to hold the steering, when to turn, what to preserve, and grow a business. Basically, talking about the principles of the lean startup, the book is based on five major principles which are:
1. Entrepreneurs are everywhere: An Entrepreneur can be anyone who runs a startup, designs a business structure, and produce new products and services for their customers under the conditions of uncertainties. The approach shared by the lean startup is for any business startup regardless of the size and industry.
2. Entrepreneurship is a form of management: Where established business owners can rely on a proven business structure, startups must look for strong management for a well-structured business model.
3. Validated learning: The major purpose of the startup is not to earn money or to serve customers but it is to know how to set up a business in the long term. Entrepreneurs should go through a complete cycle of measuring, building, and learning new ways so that they can focus on improving the product rather than following a multi-year plan that may end in making up to things that nobody wants.
4. Innovation Accounting: One doesn’t need to set up a new accounting managing team particularly for startups to measure progress, set priorities, and define milestones.
5. Build-Measure-Learn: The fundamental goal of a startup is to turn the ideas into services and products and know-how the customer responds to your services. A successful startup is based on building, measuring, and learning from failure.
Conclusion
Every startup is an experiment that exists not to make stuff like money but to learn how to build a sustainable business. This book on startup has been a best seller ever since it’s been launched. To conclude I would like to say that this book is a must-read for a person aspiring to be a successful entrepreneur.
