Starting from "Lean Entrepreneurship"

In my previous blog post, I mentioned the starting point of start-up for our team (click to view). Today, on infoq, I suddenly saw the word "Lean Entrepreneurship ". For more information about what lean startup is, I will extract an excerpt from infoq.

Harvard Business School believes:

A few decades ago, people did not have a clear understanding of the successful creation of technology companies. They may think that it was a combination of PowerPoint presentations, trade exhibitions for sexy models, and websites. Later, the network bubble burst and investors became smarter and cautious. Once an entrepreneur briefly described his strategy, he would be able to burn his money at risk for many years, but the days are gone forever. Now is the era of lean entrepreneurship.

"Most startups fail not because they cannot create the desired product, but because they have created the wrong product, which takes too long and wastes too much money to create, in addition, a lot of money is wasted in sales and marketing, just to sell wrong products." This is what Tom eisenmann, a professor at the Department of entrepreneurship management at Harvard Business School, said. "It took a lot of time, and the time was money. After the money was spent, the startup company went bankrupt ."

Therefore, lean startups are those that adopt lean principles. The companies they create focus only on Customer Value and make improvements as quickly as possible based on customer feedback. Wikipedia tells us:

A lean startup company initially advocates creating rapid prototypes to test market ideas and then using user feedback to implement ideas, which is faster than using traditional software engineering practices-like waterfall models. We often see that lean startups will release new products to the formal environment multiple times in a day.CodeIs often called continuous deployment.

Sometimes people describe lean entrepreneurship as the application of Lean Thinking in the entrepreneurial process. The core principle of Lean thinking is to reduce waste. The lean startup process uses customer development to reduce waste, which increases the frequency of communication with real customers and tests as early as possible to avoid incorrect market assumptions. This approach tries to improve the old corporate strategy by reducing the work done by evaluating market assumptions and reducing the time for companies to find market power. This is called minimum viable product ).

We feel that it is different from our original plan. "Most startups fail not because they cannot create the desired product, but because they have created the wrong product, which takes too long and wastes too much money to create, in addition, a lot of money is wasted in sales and marketing, just to sell wrong products." This is what Tom eisenmann, a professor at the Department of entrepreneurship management at Harvard Business School, said. I am confident that we are actually creating products, and whether the products are incorrect from the perspective of similar products in the current market. So the first and the negative effects of "Lean Entrepreneurship" are not consistent.
"It took a lot of time, and the time was money. After the money was spent, the startup company went bankrupt ." Looking back at the Team status, we did not invest a lot of money. In fact, there was no capital injection, and we spent some money to buy a domain name. However, we have invested a lot of time. In fact, time is the most important thing for us. Working in the company every day, returning to your place of residence requires coding and OM (online-meeting ). An internal release originally planned to be released by the end of June cannot be released for various reasons. So time is our capital injection.