When startups talk about how they have set up, many mention the lean method. The phrase was coined by author and entrepreneur Eric Ries to describe a fresh approach to product and service design.
Several prominent tech companies have begun to publicly employ the lean startup philosophy, including DropBox, and lean startup principles are now taught in classes at Harvard Business School.
We spoke with Mary Cronin of ThousandSeeds, which was set up to stimulate entrepreneurship and learning through programmes, workshops and online communities, about the main principles of the lean startup approach.
1. Entrepreneurship is management.
The idea most people have of an entrepreneur is that of a Steve Jobs-type creative visionary. In reality, having the ability to implement an idea and management skills are every bit as important as creativity.
“People have an idea that entrepreneurs are very creative,” said Cronin. “A lot of entrepreneurship is about management. It is about taking an idea you have and validating it.”
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