The Day starts with Lean Market Entry Lecture by Olla sundell CEO of Hub Helsinki. LeanThinking being the agenda of the day everything around was supposed to be Lean. Lean methodology is what I have learnt after being part of this service design industry. This topic has been one of my personal favorites. Lean is a unique concept used in these days young entrepreneur for creating andmanaging their product or business.
The lecture started with discussion about lean methodology principle / Lean Thinking –There is certain mindset that we have to adaptadapt for being in lean like instead of focusing on single processes or technology we should focus on the entire organization as a flow to your customer or process. Focusing on the problem rather than on the solution when planning for a product or service. And build your product to lean maximum out of it. The first and foremost step to adapt to lean is that before you start analyzing your system, it’s always necessary to determine what you customer is exactly looking for and this is what it called identifying value for the customer and then building the product .
Regarding cutting out the time to market this is what the lean methodology preaches that we should cut down half of our time and build something that we can step out and try on our customers.
These days the focus have really shifted to startup and they gain success if and only if
- They focus on the problem, not the solution.
- The focus while building the product should be minimizing waste to maximize value .
- Develop the product continuously and testing it at the same time with customers and collecting feedback.
- Listening to the customer.
Olla Sundell mentioned start ups as a team developing new a product and the most important thing to be followed is not to launch your product to a mass market rather than doing it part by part or area by area would help to avoid major mistakes. Working in small batches makes companies learn faster and balance things happen around them.
Startup is a team in search of a scalable business model. The lean business model canvas preaches that instead of committing too many resources in building a complete product one should focus on minimum visible prototype (MVP). And product development gets in the way of learning things. And based on the feedback collected more development can be done in batches.
Based on your vision and your understanding of their problem its always the early adopters and innovators who would be interested in your products. “Don’t bluff and be honest and focus on the understanding customer problem and always trying to pitch your vision not a product” by Olla Sundell
By Titikshya Mohanty
Steve Blank: “Why the Lean Startup Changes Everything“
Erik Reis (2010) The Lean Start-up: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Business. Crown Business.
Ash Maurya (2012) Running lean – Iterate from Plan A to a Plan That Works. O’Reilly.