Facilitating Opportunity Development: Increasing Understanding of the Lean Startup Approach in Early Stage High-Tech Entrepreneurship
Facilitating Opportunity Development: Increasing Understanding of the Lean Startup Approach in Early Stage High-Tech Entrepreneurship

Author: Christian Kählig

Publisher: GRIN Verlag

Published: 2011-07-05

Total Pages: 146

ISBN-13: 3640951077

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Master's Thesis from the year 2011 in the subject Business economics - Company formation, Business Plans, grade: 1.0, Technical University of Munich, course: Entrepreneurial Opportunity Development, language: English, abstract: The research objective of this study was to explore how the startup idea development progress was experienced by entrepreneurs and how the Lean Startup Approach (LSA) affected that progress in early stage high-tech entrepreneurship. The Lean Startup movement has gained a lot of traction not only in the Silicon Valley area, but also to some extent in Europe. However, with increasing popularity, criticism starts to get formulated as well. Due to the limited coverage of the LSA, its principles and related management practices in academic literature, it remains difficult to critically assess the validity and effectiveness of the proposed concept. With this study, light is shed on the LS phenomenon by interviewing representative high-tech entrepreneurs and leading proponents of the LS principles and practices. In order to better understand LS principles at work with an emphasis on experienced startup idea development progress, semi-structure interviews with seven Lean Startup Machine (LSM) event participants as well as one mentoring subject matter expert were conducted. The interviewed practitioners were purposely selected from the most and least performing teams according to the appraisal of the LSM event judges. The main reason for choosing the LSM event is the fact that the LSM projects, while somewhat artificial, do provide condensed versions of real life startups, which provides a high information to effort ratio to me as a researcher. Furthermore, a LSA survey tailored to the opportunity development process and a post-LSM-event survey were conducted. The purpose of the multiple mini-cases study (which treated each team working on an entrepreneurial idea as a mini-case) was to explore the opportunity development progress and the role of LS principles and practices from the perspective of consumer Internet high-tech entrepreneurs and LS proponents (mentors) in a highly time-constrained real world LS practitioner event in the USA. Learning about how participants of the event perceived and experienced development progress and the LSA provided insights into the relevance of the LS methodology as a means to accelerate the development progress of an early stage startup idea towards a viable opportunity.

The Lean Startup
The Lean Startup

Author: Eric Ries

Publisher: Crown Currency

Published: 2011-09-13

Total Pages: 337

ISBN-13: 0307887898

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Most startups fail. But many of those failures are preventable. The Lean Startup is a new approach being adopted across the globe, changing the way companies are built and new products are launched. Eric Ries defines a startup as an organization dedicated to creating something new under conditions of extreme uncertainty. This is just as true for one person in a garage or a group of seasoned professionals in a Fortune 500 boardroom. What they have in common is a mission to penetrate that fog of uncertainty to discover a successful path to a sustainable business. The Lean Startup approach fosters companies that are both more capital efficient and that leverage human creativity more effectively. Inspired by lessons from lean manufacturing, it relies on “validated learning,” rapid scientific experimentation, as well as a number of counter-intuitive practices that shorten product development cycles, measure actual progress without resorting to vanity metrics, and learn what customers really want. It enables a company to shift directions with agility, altering plans inch by inch, minute by minute. Rather than wasting time creating elaborate business plans, The Lean Startup offers entrepreneurs—in companies of all sizes—a way to test their vision continuously, to adapt and adjust before it’s too late. Ries provides a scientific approach to creating and managing successful startups in a age when companies need to innovate more than ever.

Entrepreneurial Strategy
Entrepreneurial Strategy

Author: Dean A. Shepherd

Publisher: Springer Nature

Published: 2021-07-19

Total Pages: 142

ISBN-13: 3030789357

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This open access book focuses on explaining differences amongst organizations regarding various attributes, forms, and outcomes. By focusing on the “how” of new venture creation and management to produce well-established organizations, the authors aim to increase our understanding of the antecedents of most management research assumptions. New ventures are the source of most newly created jobs generated in an economy, new industries and markets, innovative products and services, and new solutions to economic, social, and environmental problems. However, most management research assumes a well-established organization as the starting point of their theorizing. Building on the notion of guided attention, it details how entrepreneurs can allocate their transient attention to identify potential opportunities from environmental change and how entrepreneurs allocate their sustained attention to form beliefs about radical and incremental opportunities requiring entrepreneurial action. The authors explain how entrepreneurs build such communities and engage community members over time to co-construct potential opportunities for new venture progress. Using the lean startup framework, they connect the dots between the theorizing on identifying and co-constructing potential opportunities and the startup of new ventures. This leads to a new overarching framework based on are (1) co-creating a startup, (2) organizing a startup, and (3) performing a startup to bring together the many disparate threads of research on new ventures. The authors then theorize on the importance of knowledge in organizational scaling. Based on cutting-edge research from the leading entrepreneurship journals, this book expands knowledge on the cognitive aspect of the new venture creation process.

The Lean Startup
The Lean Startup

Author: Eric Ries

Publisher: Crown Currency

Published: 2011-09-13

Total Pages: 338

ISBN-13: 030788791X

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Most startups fail. But many of those failures are preventable. The Lean Startup is a new approach being adopted across the globe, changing the way companies are built and new products are launched. Eric Ries defines a startup as an organization dedicated to creating something new under conditions of extreme uncertainty. This is just as true for one person in a garage or a group of seasoned professionals in a Fortune 500 boardroom. What they have in common is a mission to penetrate that fog of uncertainty to discover a successful path to a sustainable business. The Lean Startup approach fosters companies that are both more capital efficient and that leverage human creativity more effectively. Inspired by lessons from lean manufacturing, it relies on “validated learning,” rapid scientific experimentation, as well as a number of counter-intuitive practices that shorten product development cycles, measure actual progress without resorting to vanity metrics, and learn what customers really want. It enables a company to shift directions with agility, altering plans inch by inch, minute by minute. Rather than wasting time creating elaborate business plans, The Lean Startup offers entrepreneurs—in companies of all sizes—a way to test their vision continuously, to adapt and adjust before it’s too late. Ries provides a scientific approach to creating and managing successful startups in a age when companies need to innovate more than ever.

The Startup Way
The Startup Way

Author: Eric Ries

Publisher: Crown Currency

Published: 2017-10-17

Total Pages: 402

ISBN-13: 110190321X

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Entrepreneur and bestselling author of The Lean Startup, Eric Ries reveals how entrepreneurial principles can be used by businesses of all kinds, ranging from established companies to early-stage startups, to grow revenues, drive innovation, and transform themselves into truly modern organizations, poised to take advantage of the enormous opportunities of the twenty-first century. In The Lean Startup, Eric Ries laid out the practices of successful startups – building a minimal viable product, customer-focused and scientific testing based on a build-measure-learn method of continuous innovation, and deciding whether to persevere or pivot. In The Startup Way, he turns his attention to an entirely new group of organizations: established enterprises like iconic multinationals GE and Toyota, tech titans like Amazon and Facebook, and the next generation of Silicon Valley upstarts like Airbnb and Twilio. Drawing on his experiences over the past five years working with these organizations, as well as nonprofits, NGOs, and governments, Ries lays out a system of entrepreneurial management that leads organizations of all sizes and from every industry to sustainable growth and long-term impact. Filled with in-the-field stories, insights, and tools, The Startup Way is an essential road map for any organization navigating the uncertain waters of the century ahead.

Book Review: The Lean Startup by Eric Ries
Book Review: The Lean Startup by Eric Ries

Author: 50minutes,

Publisher: 50Minutes.com

Published: 2017-08-25

Total Pages: 29

ISBN-13: 280800270X

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It can be hard for busy professionals to find the time to read the latest books. Stay up to date in a fraction of the time with this concise guide. Eric Ries’ 2011 bestseller The Lean Startup is a valuable guide for startup founders and aspiring entrepreneurs. Ries applies the methods of lean management to the creation and development of startups, with the aim of allowing users to reduce waste, optimise production processes and find out what their customers really want. The principles of his approach will help entrepreneurs to achieve sustainable growth and adapt rapidly to changes in their environment, which is vital given the uncertainty and risk which characterise most startups. The Lean Startup has won legions of devoted followers all over the world, and Ries’ innovative approach has been applied to many businesses across a wide range of sectors. This book review and analysis is perfect for: • Startup founders looking to ensure sustained growth • Entrepreneurs and anyone thinking of starting a company • Anyone interested in understanding this innovative approach to entrepreneurship About 50MINUTES.COM | BOOK REVIEW The Book Review series from the 50Minutes collection is aimed at anyone who is looking to learn from experts in their field without spending hours reading endless pages of information. Our reviews present a concise summary of the main points of each book, as well as providing context, different perspectives and concrete examples to illustrate the key concepts.

The Lean Entrepreneur
The Lean Entrepreneur

Author: Brant Cooper

Publisher: John Wiley & Sons

Published: 2016-02-19

Total Pages: 224

ISBN-13: 1119094992

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Leverage the framework of visionaries to innovate, disrupt, and ultimately succeed as an entrepreneur The Lean Entrepreneur, Second Edition banishes the "Myth of the Visionary" and shows you how you can implement proven, actionable techniques to create products and disrupt existing markets on your way to entrepreneurial success. The follow-up to the New York Times bestseller, this great guide combines the concepts of customer insight, rapid experimentation, and actionable data from the Lean Startup methodology to allow individuals, teams, or even entire companies to solve problems, create value, and ramp up their vision quickly and efficiently. The belief that innovative outliers like Steve Jobs and Bill Gates have some super-human ability to envision the future and build innovative products to meet needs that have yet to arise is a fallacy that too many fall prey to. This 'Myth of the Visionary' does nothing but get in the way of talented managers, investors, innovators, and entrepreneurs. Taking a proven, measured approach, The Lean Entrepreneur will have you engaging customers, reducing time to market and budgets, and stressing your organization's focus on the power of loyal customers to build powerhouse new products and companies. This guide will show you how to: Apply actionable tips and tricks from successful lean entrepreneurs with proven track records Leverage the Innovation Spectrum to disrupt markets and create altogether new markets Use minimum viable products to drive strategy and conduct efficient market testing Quickly develop cross-functional innovation teams to overcome typical startup roadblocks The Lean Entrepreneur is your complete guide to getting your startup moving in the right direction quickly and hyper-efficiently.

Running Lean
Running Lean

Author: Ash Maurya

Publisher: "O'Reilly Media, Inc."

Published: 2012-02-24

Total Pages: 238

ISBN-13: 1449331912

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We live in an age of unparalleled opportunity for innovation. We’re building more products than ever before, but most of them fail—not because we can’t complete what we set out to build, but because we waste time, money, and effort building the wrong product. What we need is a systematic process for quickly vetting product ideas and raising our odds of success. That’s the promise of Running Lean. In this inspiring book, Ash Maurya takes you through an exacting strategy for achieving a "product/market fit" for your fledgling venture, based on his own experience in building a wide array of products from high-tech to no-tech. Throughout, he builds on the ideas and concepts of several innovative methodologies, including the Lean Startup, Customer Development, and bootstrapping. Running Lean is an ideal tool for business managers, CEOs, small business owners, developers and programmers, and anyone who’s interested in starting a business project. Find a problem worth solving, then define a solution Engage your customers throughout the development cycle Continually test your product with smaller, faster iterations Build a feature, measure customer response, and verify/refute the idea Know when to "pivot" by changing your plan’s course Maximize your efforts for speed, learning, and focus Learn the ideal time to raise your "big round" of funding Get on track with The Lean Series Presented by Eric Ries—bestselling author of The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses—The Lean Series gives you solid footing in a proven methodology that will help your business succeed.

The Lean Enterprise
The Lean Enterprise

Author: Trevor Owens

Publisher: John Wiley & Sons

Published: 2014-03-31

Total Pages: 259

ISBN-13: 1118852176

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#1 Amazon Bestseller in Lean Management Discover the methods of lean startups that can revolutionize large organizations and their products Even in a tough economic climate, the startup business community has found a way to create innovative, game-changing products in shockingly short timeframes. So why should larger, more established companies take notice? Because they have everything to gain when they examine and adopt the strategies, tools, and attitudes of these smaller competitors. The Lean Enterprise presents a groundbreaking design for revolutionizing larger organizations, one that draws on the ingenious tenets and practices espoused by the startup community. The guidelines in this book will help companies shake the lethargy, bureaucracy, and power struggles that plague large organizations and hold them back from true innovation. At the heart of this resource is a comprehensive, practical approach based on methods, timetables, compensation, financial investment, and case studies that reveal the startup mentality. Respected thought leaders in lean startup methodologies, the authors cover successful enterprise development, development innovation labs, corporate venture arms, and acquisition and integration of startups. Essential reading for entrepreneurs, product managers, executives and directors in Forbes 2000 organizations, and board members Presents the tools and methodologies large businesses need to compete with a new generation of highly-empowered entrepreneurs Covers lean startup culture and principles and identifies the behaviors that arestunting growth at large enterprises Offers a comprehensive, practical approach for developing exciting products and services and opening vast new markets Don't be mystified by the success of startups. Master the methods of this new generation of entrepreneurs and compete on a level playing field.

Summary and Analysis of The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses
Summary and Analysis of The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses

Author: Worth Books

Publisher: Open Road Media

Published: 2016-12-27

Total Pages: 29

ISBN-13: 150404343X

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So much to read, so little time? Get the key points of The Lean Startup—the bestseller about creativity, efficiency, and building a sustainable business. Through successes and failures with tech companies, Eric Ries began to realize there was a better way to develop a startup. Using his experiences, as well as valuable lessons learned from other industries, Ries identifies the difficulties a startup faces and how to build a more efficient—and successful—business. In the end, all of his advice comes down to saving the most important resource of all: time. This summary of that bestselling business book covers such topics as: How to shorten project-development cycles Validated learning and rapid scientific experimentation Measuring progress accurately Identifying your customers’ desires How to adapt to changing circumstances quickly With chapter-by-chapter overviews, definitions of key terms, context and analysis, important quotes, and other features, this summary and analysis of The Lean Startup is intended to complement your reading experience and bring you closer to a great work of nonfiction.