Starting a new company has been a challenge, and will remain so. There are strong reasons to corroborate the fact. Right from the moment you sow the seed of a startup, your tryst with the future of your pet startup begins.
As an entrepreneur, your first and foremost priority is to bring your pet startup at a break even point. The moment that happens, you, your team, resources get a most desired lift. Sounds simple!!! However, is it that simple? Not at all!!! Do you know why???
Startups’ founders must consider disturbing statistics before painting a drawing on a canvas about the future of your startup. A dedicated research by a leading business school Harvard Business School clearly suggests that 75% of startups fail to see the light of the day. This figure speaks volume, can never be undermined.
A budding entrepreneur plunging into startup business can’t undermine this fact. In fact he/ she should consider the figure before venturing into startup. It’s like going on a sail with lifeboat. That’s true!!! Blindly don’t start a business!!!
Explore the Magic of Lean Startup
Do you know what separates a successful startup from an unsuccessful one??? There are couple of reasons. One could be banking on a plan that works when you are short of resources.
Industry insiders have been developing one theory after the other to fuel the growth of the startups. One such theory is lean startup. It’s a marvelous development, enabling startups in scaling up.
How Does the Phenomenon Work?
The well researched phenomenon helps in making the process of running a company less risky. It works on clear cut rules. Instead of favoring a comprehensive planning on how to run a startup, it focuses on learning from experimentation, customer feedback, and iterative design among others. Philosophy is to carryout experimentation in product development, services without taking risk.
Customer feedback plays a significant role in keeping the product/ service alive and company at large. That’s absolutely true!!! The moment you realize that a certain innovation is not producing result; you can plug it, saving yourself from future risks. That’s what you want as an owner of a startup.
The same methodology is applicable for innovation. You are free to innovate with your product/ service; however, as exclusive monitoring is in place, you can comfortably capture the flaws. And it pays off in the long run.
Leverage on Innovify’s Expertise in Lean Startup
At Innovify, fueling the growth of startup is not mere a business strategy, in fact it’s a passion. Our one point agenda is to enable startup scaleup. Leveraging the outstanding experience of our wonderful lean startup team, we are helping startups in overcoming the market challenges, including product/ service launch, customer feedback, and innovation among others.
Explore the phenomenon at Innovify at the earliest and watch your dream startup company grow.