The lean startup method is a type of business launching strategy which is typically done by business owners who are operating within tight constraints but would want to launch their business anyway. The slang term for the lean startup is “bootstrapping” and is a well documented strategy for businesses who want to hit the ground running. If done correctly, the lean startup methodology can be a very effective tool for forming a company regardless of whatever new service or product is being offered into the market.
Bootstrapping begins with the recognition that there are serious constraints which can derail a business from launching on time. This is particularly important when an investor wants to take advantage of market conditions and that delaying the business launch will cause the business to miss those conditions. For example, a business that urges people to buy quality Kratom powder must take advantage of favorable regulations on Kratom importation to develop a stable client base. If there is impending regulation that will make Kratom importation that much harder in a year’s time, it makes sense to bootstrap the company today and allow it to move ahead without following the typical life cycle of creating a company.
Of course, there are many documented failures of companies that were started up in a lean manner, however this were primarily attributable to the fact that the lean startup was not properly done. Starting a business in a lean manner should not be an excuse for bypassing many of the more important tenets of business startup particularly those related to feasibility, market research, and product positioning. Simple products like a coconut oil moisturizer should be given just as much thought and attention as more sophisticated products like a halvin pikalaina – the Finnish equivalent of offering cheap online loans.
The best way to embrace the lean startup methodology and apply it properly is to study it first, or hire a consultant o manage the launch rather than pretending that one can do a lean startup with proper training. It is very important to learn more about the method before implementing it rather than going in blind and uninformed about how to exactly make it work. One can also visit site of many online resources just to get a feel for the latest innovations and developments associated with lean startup.
Of course, it pays to remember that not all businesses can be started up in the leanest manner. For putting up a dentist directory, for example, it helps to be thorough and prepared when launching these types of businesses rather than rushing to the market without any perceived goal as to why.
The lean startup methodology works, but only if it is done properly and applied in the correct situation. Check your planned business today if you fall neatly into this category; else, it may be more advantageous to take the time to develop and launch the business rather than attempting to go on a lean startup without first understanding how each shortcut and compromise taken can jeopardize the business in the end.
In business, “fast” works, but it does not work all the time, every time.