Running Lean

RUNNING LEAN: Iterate from Plan A to a Plan that Works

By Ash Maurya

For any business to succeed—be it a startup or an established company—it’s vital to innovate and have a viable business model. Yet, most innovations and startups fail. The majority of those that succeed were found to have changed their plans drastically. Hence, it’s not as important to have a great initial plan, as it is to be able to switch to a viable alternative before you run out of resources. This book provides a step-by-step blueprint you can use to refine your initial Plan A to a plan that works, so you significantly improve your chances of successfully developing new products or services.

In this summary, you’ll learn:
• How you can convert the principles in Lean Startup, Bootstrapping and Customer Development into concrete, practical action steps that you can apply in your business;
• The 3 phases that any startup will go through, and why it’s vital to get a problem-solution fit and product-market fit before you attempt to scale your business; and
• How to apply the 3 Meta-Principles to Document your Initial Plan (using a systematic process and the Lean Canvas), Identify the riskiest aspects on your plan (including prioritizing the best model to test) and how to mitigate your risks by Systematically Testing your Plan (with 4 concrete steps: Understand the Problem => Define the Solution => Validate Qualitatively => Verify Quantitatively).

Who should read this:
• Business owners and entrepreneurs
• People with roles/responsibilities in business and product development, innovation and business strategy Maurya