This document discusses the Lean Startup methodology for starting new businesses. It begins by defining entrepreneurship as developing, organizing, and managing a business venture to make a profit. Startups are then defined as offering new products or services with high uncertainty. The Lean Startup movement aims to prevent business failures by adopting principles from lean manufacturing like minimizing waste and using short iteration cycles. The key principle is the build-measure-learn feedback loop, which allows constant adjustments rather than complex plans. Entrepreneurship therefore involves management skills to harness opportunities using a lean, iterative approach.
This document discusses the Lean Startup methodology for starting new businesses. It begins by defining entrepreneurship as developing, organizing, and managing a business venture to make a profit. Startups are then defined as offering new products or services with high uncertainty. The Lean Startup movement aims to prevent business failures by adopting principles from lean manufacturing like minimizing waste and using short iteration cycles. The key principle is the build-measure-learn feedback loop, which allows constant adjustments rather than complex plans. Entrepreneurship therefore involves management skills to harness opportunities using a lean, iterative approach.
This document discusses the Lean Startup methodology for starting new businesses. It begins by defining entrepreneurship as developing, organizing, and managing a business venture to make a profit. Startups are then defined as offering new products or services with high uncertainty. The Lean Startup movement aims to prevent business failures by adopting principles from lean manufacturing like minimizing waste and using short iteration cycles. The key principle is the build-measure-learn feedback loop, which allows constant adjustments rather than complex plans. Entrepreneurship therefore involves management skills to harness opportunities using a lean, iterative approach.
This document discusses the Lean Startup methodology for starting new businesses. It begins by defining entrepreneurship as developing, organizing, and managing a business venture to make a profit. Startups are then defined as offering new products or services with high uncertainty. The Lean Startup movement aims to prevent business failures by adopting principles from lean manufacturing like minimizing waste and using short iteration cycles. The key principle is the build-measure-learn feedback loop, which allows constant adjustments rather than complex plans. Entrepreneurship therefore involves management skills to harness opportunities using a lean, iterative approach.
Download as PPTX, PDF, TXT or read online from Scribd
Download as pptx, pdf, or txt
You are on page 1/ 16
The Lean Startup
ENTREPRENEURIAL MANAGEMENT
Chapter One Introduction What is Entrepreneurship?
The capacity and willingness to develop, organize and manage a
business venture along with any of its risks in order to make a profit.
The most obvious example of entrepreneurship is the starting of new businesses.
What the entrepreneurship definition doesn’t tell you is that entrepreneurship is what people do to take their career and dreams lead it in the into their hands and direction of their own choice. It’s about building a life on your own terms. No bosses. No restricting schedules. And no one holding you back. Introduction What is a Startup? startups offer a service/ product that is currently not being offered elsewhere in the market or is not widespread that much. At their early stages, expenses of a startup might even exceed their revenues.
Another definition of a startup was given by Eric Ries “ A startup is a human
institution designed to deliver a new product or service under conditions of extreme uncertainty”. what is the main difference between a startup and a small business? Sources of Startup Ideas Friends/Relatives Personal Interest/Hobby 5% 16% Family Business 6%
Suggestion 7%
Education/Courses 6%
Prior Work Experience Chance Happening 45% 11%
Source: Data developed and
provided by the National Federation Other of Independent Business Foundation and sponsored by 4% American Express Travel Related Services Company, Inc. Types of Ideas That Develop into Startups
New Market New New Benefit
Technology
Example: Example: Example:
Providing health Providing Providing same conscious Utah alternatives to day drain consumers with incarceration by cleaning services fruit smoothies. using high with a money- technology ankle back guarantee. bracelets for home arrest programs. New Market: Providing customers with a product/ service that is not in their market but already exists elsewhere. New Technology: Using a new technical process that provides the basis for new product or service ideas. New Benefit: Performing an old function for customers but in a new and improved way. ENTREPRENEURIAL MANAGEMENT
Building a Startup is an exercise in institution building; thus, it necessarily involves
management. Entrepreneurs are rightly wary of implementing traditional management practices early on in a startup, afraid that they will invite bureaucracy or stifle creativity. entrepreneurship requires a managerial discipline to harness the entrepreneurial opportunity we have been given. For every success there are far too many failures
– products pulled from shelves mere weeks after being launched
– high-profile startups lauded in the press and forgotten a few months later – and new products that wind up being used by nobody. What makes these failures particularly painful is not just the economic damage done to individual employees, companies, and investors; they are also a colossal waste of our civilizations most precious resource: the time, passion, and skill of its people.
The Lean Startup movement is dedicated to preventing these failures
Lean Startup isn't about being cheap [but is about] being less wasteful and still doing things that are big ROOTS OF THE LEAN STARTUP
– Lean manufacturing revolution in the Toyota production system.
– Lean manufacturing/Production involves the following: Know your customer – Eliminate waste – Shrink batch size – Just-in-time production – Acceleration of cycle times PRINCIPLES OF LEAN STARTUP If you have a daily commute, you probably know the route so well that your hands seem to steer you there on their own accord Question??? I asked you to close your eyes and write down exactly how to get to your office—not the street directions but every action you need to take, every push of hand on wheel and foot on pedals. you'd find it impossible Unfortunately, too many startup business plans look more like they are planning to launch a rocket ship than drive a car.
The Lean Startup method, in contrast, is designed to teach you how to
drive a startup. Instead of making complex plans that are based on a lot of assumptions, you can make constant adjustments with a steering wheel called the Build-Measure-Learn feedback loop. THE LEAN PYRAMID SO…..Entrepreneurship is management!
In the Lean Startup movement, we have
come to realize that these internal innovators are actually entrepreneurs, too, and that entrepreneurial management can help them succeed Group Members: Sadeqa Akbary Karima Amenie Mahsa Nazary Sohaila Vahidy
