Achieving a Lean Startup Methodology

 

Lean Startup pic

Lean Startup
Image: investopedia.com

Josh Gibson is a respected San Francisco businessman who holds an MD and has a background spanning health technology. With a consulting focus, Josh Gibson emphasizes a lean startup methodology that generates innovative solutions to challenging issues.

As described in a Harvard Business Review article, starting a new company is a hit-or-miss undertaking. Conventional wisdom is that a five-year business plan must be pitched to funding partners generate traction, build a team, and expand.

Lean startup planning involves an assumption that five-year plans are unlikely to hold traction in the real world, as strategies rarely make it past the “first contact with customers” stage. In addition, startups do not follow the same rules as larger, better-established companies. Rather than proceeding according to master plans, they move from “failure to failure.” Through trial and error, they gain flexibility and exert constant improvement on the original concept.

Lean startups also use an agile development model, which focuses on the elimination of wasted effort through incremental product development. Undertaken in tandem with customer development, a positive real-time feedback loop that allows products to be assessed and refined while they are in the initial development phases is generated. Stages of growth do not take place linearly, but involve the short, repeated building of products that benefit from user perspectives.

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