The lean start-up – It’s a phrase that you’ve probably heard if you have tapped into the entrepreneurial world recently. Spear headed by Eric Ries, the lean start-up is a ‘scientific’ way of testing and developing a business. Primarily, start-ups use this concept to create processes and methodologies helping them to continuously test and retest what they are offering. By putting these systems into place, it is suggested that businesses become more innovative and create better products based on consumer feedback.
From this original concept, other entrepreneurs have also developed it into a way of organising themselves, testing their product rigorously (and cheaply) before investing huge sums of money in completing the final product. Others have used it to create their own testing strategies. Alex Osterwalder, the co-founder of Strategyzer.com is one such entrepreneur.
Alex Osterwalder compiled a list of 10 principals to stick to when you’re testing a business idea or product. Strongly aligned to the lean start-up concept, his 10 principals of testing contain valuable lessons for any start-up (or anyone thinking of starting a business). They are as follows:
Image Source: @AlexOsterwalder
Not everyone agrees with the lean start-up methodology, however there is a lot to be taken from it. Every business needs to test its products and to listen to customer feedback. By integrating this into your overall plan, it helps you to think about your business as a whole, and could help you to create an end product that is not only good, but that people genuinely want to buy into and get excited about.