Lean Startup Assignment Help
Lean Startup Answer. 1
Though the entire book’s content has been an effective aid in upgrading my knowledge regarding an effective Start Up attaining the desired results, this section in particular has further nourished my understanding on how to maintain the seamless progress in the long run by being well updated and constantly modifying strategies, in compliance with the prescribed loop ‘build-measure-learn’. Author in this section, by highlighting the traditional mistakes causing failure of organizations has tried to refrain the organization for making big investments on new products. He argues that instead of mass production, small production should be tested on a community’s small portion to assess the viability of the new product.
Secondly, is also learned through this section that how growth of an organization could be assured by focusing on the mentioned three factors (Growth Engines). A startup not necessarily would be a success, there are could be varied factors leading to the failure of a startup, in the same section major reasons for startup failure has been illuminated by the author, which would be an effective support for an entrepreneur conducting a new startup.
Moreover, author’s suggestion of ‘Five Whys’, is the most appealing part for me, as errors and issues are the major hurdles for a seamless progress of any organization which needs proper timely diagnoses and cure of the problem. The prescribed ‘Five Whys’ would be a competent measuring tool to assess the intensity of the problem and concluding its solution.
A serious consideration of the knowledge provide in this section would enable an entrepreneur to identify the potential issues and his competency in starting a new startup, also startup implementation in accordance with the mentioned loop build-measure-learn, would confirm the success of the startup.
Lean Startup Answer 2
The knowledge and suggestions presented in this part are not only applicable in the corporate or business sector, but also applying the same knowledge in our routine life segments would definitely produce fruitful results. In the current era of advance technology and intense competition, for a continuous success, our actions, learnings, identifying the issues and concluding solutions should be in accordance with the factors influencing our performance and activities.
The message conveyed in the discussed part would be an effective aid in my professional career. As the author has elaborated the concept of define, learn and experiment, practicing the same concept I would be able to achieve my planned targets being more productive for my organization. Moreover, for the experiment segment interacting with the potential customers attaining their feedbacks not only will aid in modifying my idea as per their demand but would also be a great help in generating more ideas for more products.
As I will be a new born in my professional career, and to set a foot hold in my respective field I must be introducing new innovations. Working in compliance with the emphasized loop ‘build-measure-learn’, would affirm the credibility of my innovation. It is observed that new startups when conducted on a large scale usually fails, whereas it is emphasized in the mentioned part that viability of any new product should be tested on a small portion. I will be following the same principle so that without wasting much capital I could tailor an innovation as per the community’s demand.
References
Ries, E. (2011). The lean startup: How today’s entrepreneurs use continuous innovation to create radically successful businesses. Crown Books.
