As Silicon Valley’s lean startup method quickly gains popularity, many entrepreneurs are led to believe that the business plan is dead. While today a one size fits all solution hardly works as in years past, the business plan is certainly not a thing of the past. The lean startup method’s minimum viable product strategy has worked well for startups seeking venture capital funding, but Main Street business owners outside Silicon Valley need to approach things with a slightly different strategy.
The lean startup method, promoted by Eric Ries, recommends developing technology quickly and then immediately launching it to customers, then gathering data, tweaking and relaunching the product all in a short period of time. This is an excellent way to quickly determine whether your product is truly resonating with your target audience without heading too far down the wrong development path.Featured Posts, Updates and tagged Business plan, entrepreneur, featured, Tips and Tricks. Bookmark the permalink.