The lean business theory is just incredible!!! As a founder of a startup, you are always looking for viable business techniques, enabling you realize your dream of managing a startup successful.
Research on the sustenance of lean startups show, majority of the startups fails to perform under stiff market competition. Reasons are galore, including lack of experience in managing a venture, short of concrete planning, and lack of contingency plan
Many theories have evolved to surmount the challenges being encountered by niches. Every theory came out with its own pros and cons. Some were appreciated while others were out rightly discarded.
As I’m doing research on the mechanism of businesses, their management style, challenges, recommending one theory or undermining the other has been a massive challenge for me. I never wanted to jump to any conclusion before absolutely ensuring its pitfalls or advantages. As a research scholar, it’s my primary duty to recommend a methodology to accelerate that works. That’s my job as a research scholar!!!
Emergence of the lean startup
Industry leaders have been trying to come up with a feasible mechanism, enabling entrepreneurs in realizing their business goals. Lean startup is one such theory which is enabling them in overcoming market challenges. Interestingly the theory is widely accepted cutting across domains.
Whether you are from a manufacturing field or running a research organization, lean startup has answers for your pet startup. Speaking in terms of its key principles, it is broadly divided into three key pillars:
- Deploy resources smartly.
- Draw customer feedback at the earliest.
- Bring in change in the product/ service at the earliest to keep pace with the changing market dynamics.
The aforementioned succinct principles clearly show how incubation can leverage lean startup mechanism to establish them as a brand.
Bank on Innovify
At Innovify, we are committed to execute lean startup mechanism in your pet startup organization successfully. There are many success stories. Within a short span of time, we have enabled many ventures in realizing their business goals.
Professionally qualified team of technocrats, administrators, and IT professionals among others with rich experience in lean startups work day in day out to ensure the success of your own start!!!