The Lean Startup By Eric Ries - Book Summary

 The Lean Startup 


     The Lean Startup book is a book for managing startups and how to meet the need for customer satisfaction. The Lean Startup Book is to revolutionize the business startup environment.

     Most of us have a misconception about starting a business, I heard that to start a successful business all you need is a brilliant idea and if the execution is proper it will make us billionaire or at least a millionaire just like Mark Zuckerburg idea of Facebook or youtube video sharing idea by three PayPal employee 

     Every billionaire companies who had a brilliant idea had made their fortune but it's all a myth if we look at the history of youtube it was initially an online dating site no a video sharing site.

 The Lean Startup  -  Book Summary
 The Lean Startup  -  Book Summary

     Facebook Mark Zuckerburg had created a website FaceMash, Facebook was not his first idea a maximum time person does not get success with their first idea instead they get success when the idea is modified in regular internal as per user requirement.

So let Begin, The Quick Summary of "The Lean Startup Book By Eric Ries."

     We all should know the success of a startup is not based on  one brilliant idea it requires you to handle the extreme level of uncertainties startup is like an experiment, where we have to keep trying new ideas and have to learn new ways to improve our idea before the competitors, where we do not have any idea of what the output that is known as the Entrepreneur.

     Once the Entrepreneur of the USA had taken money from the investors to work on his brilliant idea most of them liked the idea including the investors. The idea was to make a product which can solve the problem of social media traffic of the companies his team spent one year and a million-dollar to make the product and when they felt the product is ready they launched it happily surprisingly. 

     After the launch not even single the organization showed interest in his product because nobody felt the need for that product they were satisfied working in the routine, which resulted in the loss of million-dollar time and energy of Neil Patel and his entire team to make a product which was not in need by anyone I shared this story with you all because this is the major reason for startup loser, during a startup people usually, think an idea, in reality, don't get as the result they want, they work hard in all technical aspects, and invest a lot of money, time and energy in making an efficient product which is not required by others. 

     Always remember before making any product your question should not be whether you can make this product or not instead it should be whether you should make such product or most of the people fail because they work on a conventional management technique i.e. doing market research then making a good strategy and lastly to deliver a great product this kind of approach is good  but not for the startups reason it is not possible for a startup to assume their market before launching their product a startup cannot assume the success of their product unless it is used by their customer these are all reason for startup failures but the good part is this failure can be avoided. 

     By lean startup methodology gives a solution of all these problems and help startup to save their precious time and money, this concept is based on build pressure and learn principle according to this.
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     The first thing you should do is of making a viable product and then launch that product on a trial basis to understand and measure the response and the reaction of the customers and to learn, whether the ideas are working as per our thinking and assumption or should we require to make changes for better customer response this cycle need to be repeated unless you don’t get desired response from market and customer in simple words minimum viable product would be where you put to three most attractive key point about your product which you feel will be appreciated by your customer than make a product with less expenditure which can be used as a trail where you can understand, whether your key points are working or not and now much positive response customer is giving.

     This measure needs to do done in the cheapest and the fastest way don’t forget your minimum viable product is not your actual product it’s only for the trail for the purpose of understanding the idea and the product so try to make it as simple and cheap as possible. Just cover the critical points which required for good feedback and also help you to understand product and sales. 

     Finally when you measure your customer response in detail, then there will be two options first pivot or if your key. Assumptions are getting a positive response. Then you should follow preserve option which means you should go along with your idea with what idea, you should focus, in making your product much better. But if you are not getting the excepting response. 

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     Then you should follow pivot options which mean to try to execute your idea in other ways or sets a different target audiences or make some kind of changes which will give you better results. 

     For example, A man named Kevin who created an app called BorBourn check in-app in which there were some elements of mafia wars game and it also had a photo clicking element feature but he has stressed because of BorBourn app except the photo clicking the features and started working on that one feature to make it better after following this pivot technique BorBourn has become a new success which we all know today as an Instagram.

     Similarly even you all have to do this kind of experiment to get the desired results most of the startup begins and within a few months gets disappears even after putting so many efforts when they do not get the proper results so they quit or will say never quit but keep working on the same idea again and again and except to gets the different results but they do not get the different results so due to lack of capital eventually even they fail and disappear from the market both way is not correct to get the success they just need to use the pivot technique but usually they don’t think of it one thing you all need to remember is that how many pivots you all can handle before you run out of money so to conclude.

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     Do remember that the customer are the real king and all your action and decisions must be taken according to their preference and like to make them happy and satisfied. 

     To you or your team will not get success by making something which is not required by your customer the concept which, I have shared with you all is from the Lean Startup Book by Eric Ries it is an awesome book for Startups.

    I just shared with you a few principles of the book, if you need the e-book to send me the request via the contact page or do the subscription via E-mail Id.

     At last, the book "The Lean Startup" says that "There is only one path to get success is to learn faster than anyone else. The product or services which are offered by you must meet the need of customer's requirements."

Early Learn, Early Earn

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