The Lean Start-up method has been around for a while. Using this concept, entrepreneurs first exhaust what they have at hand before going out to look for external resources to fund their projects. Intuition, customer feedback, and experimenting is much more favored than elaborate planning. This method also prioritizes the creation of a minimum viable product, where interaction between the maker and the customers give the entrepreneur valuable insight on how to improve his products and solutions.
This week’s Five Tips Tuesday talks about how to use the lean start up method to start your own business. Learn to identify and make the best of your resources, get tips on how to alter people’s perception about you, create a company culture the lean way, tips on where to start your tech-inspired project in Shanghai and get practical advice from other entrepreneurs who started their projects with less than a hundred bucks.
1. Article – Bootstrapping and Lean Startup are two terms often mistaken as having the same meaning. Truth is, despite both covering the same concept for starting your project, in practice they are different. Here's a piece written to dispel myths about lean startups and some strategies on how you can put them in place.
3. Management tips – Company culture plays a great role in how people interact in a company. It helps motivate employees and drives them to perform better, which results in higher customer satisfaction rates and more business for the company. But building a company culture can also cost so much. Ryan Holmes, CEO of Hootsuite shares his recipe for creating a powerful work culture the lean way, starting with a roof top and a lot of imagination.
4. News – Thinking of starting your tech start up? Shanghai would be a perfect place to start. The local government is encouraging tech start ups with financial and policy support to help boost its economic growth. Read more about it here.
5. Book – Learn how to create opportunities with as little amount as possible with The $100 Startup. Chris Guillebeau talks about how he and a few others have created and designed businesses with a capital of $100 or less and how you could do the same. Get your copy here.
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