It is now cheaper for entrepreneurs to accomplish their startup
goals, but the rate at which startups pivot can make it expensive and difficult
to maintain, “product to market fit.”[i] High
rates of pivoting occur when entrepreneurs rely on Lean Startup concepts as their
sole foundation. Relying on one area for company foundation limits a startup’s opportunities
for success.
Some of the most successful startups “have a holistic focus
on three key areas; Lean Startup concepts, Business Model Innovation, and
Continuous Delivery.”[ii] Although
this may seem like a lot to manage at one time, the entrepreneurs that do all
three thrive in uncertainty. Focusing on one key area will have advantages but
also major disadvantages.
By only focusing on Lean Startup concepts entrepreneurs are
unable to address retaining product to market fit, and delivering stability and
scalability to their customers. By focusing only on Business Model Innovation, entrepreneurs
are able to constantly create, test and modify their business models. However,
this is often done in a vacuum separate from the delivery of the product.
Business models become a thought exercise when this happens, because you cannot
validate or invalidate your model’s assumptions. By implementing continuous
delivery you can safely increase the speed at which you can reach your customers.
But, solely focusing on continuous delivery
can prevent entrepreneurs from addressing the inputs needed for creating value
for their customers. Continuous delivery alone is “a way to deliver waste
faster”.[iii] These three key areas need each other in
order for entrepreneurs to thrive in cases of extreme uncertainty.
By combining, Lean Startup concepts, Business Model
Innovation, and Continuous Delivery entrepreneurs are in a position of not
reacting to the competition, but having the competition react to them. With all
three key areas, entrepreneurs can create new business models, rapidly
validate/invalidate risky assumptions, and deliver value to customers in a
quick and scalable manner.[iv]
Have experience with one or all three areas; please share in
the comments section below.
[i] 3
Keys for Innovation: Why Lean Startup Isn’t Enough. www.bigvisible.com
[ii] 3
Keys for Innovation: Why Lean Startup Isn’t Enough. www.bigvisible.com
[iii]
3 Keys for Innovation: Why Lean Startup Isn’t Enough. www.bigvisible.com
[iv] 3
Keys for Innovation: Why Lean Startup Isn’t Enough. www.bigvisible.com
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