3 WAYS TECH STARTUPS CAN AVOID WASTING TIME AND RESOURCES

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Most companies fail not because they don’t have what it takes to build a successful product or service. They fail because they build an unneeded or unwanted product or service. For many tech startups, this happens because they built too much, too early. They identify a problem in a particular market, and they try to obliterate that problem with possible solutions.

To avoid this, take notes from Eric Ries, the forefather of the The Lean Startup Movement. As a result of his work, we are seeing a radical shift in way startups are solving customer problems. Today, garage-office startups and Fortune 500 companies alike are approaching product development with a more “scientific” approach. The principles that anchor the Lean Startup help entrepreneurs avoid wasting time and resources on products or features that will have little positive impact on customers.

Here are three ways to avoid providing too much, too early to your customers — and possibly ending up with nothing:

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