The Lean start up
Have you ever drafted a business plan? What did it entail? Did you really achieve the figures you put in your 3 year budget?
A business is nothing but a prediction of the unknown and now we have markets that change like never before.
We can draft a business plan then tomorrow the market changes.
What then?
As Vusi Thembekwayo states that business plans are useless and a waste of time and indeed they are but why are we still asked so present one when we seek funding from the NYDA or any government institute?.
Firstly I can say that we are too depended on the government to do the thinkighng for us.
The Americans has been using this new methodology called " the lean start up".
This method focuses on experimentation over elaborate planning, Customer feedback and iterative design .
This sends you straight to the market , one must do their research of the particular offering and most importantly involve the users of the product/service.
This saves time and money because you do not waste predicting but you are working on the customer's preference.
Steven Blank states that this new method start ups search for a business model that works and continue working on it based on the customer feedback.
This encomposes innovation and the involvement of the end user of our offerings.
So if you are an entrepreneur or want to be one but still trying to draft a business plan.
Stop immediately and open office tomorrow morning, fail fast and continue learning.
Develop that Mind
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