Why the Lean Strategy is Ideal for Startups

 

What is the lean method of business, and how can it be beneficial to startups? You may have already

heard about the lean method or lean planning, which is a relatively new concept designed for the

successful formation and development of companies. This method comprises of a set of tools or key

components which business owners can use in order to discover a business model which works best

for their company and brand, create viable models and plans for finances, and test assumptions and

hypothesis with an action plan. The lean method is often the most ideal choice for businesses as it

allows entrepreneurs to forgo lengthy, time-consuming, static business plans, instead tracking

progress in real time and making amendments as and when it is necessary.

 

Planning as You Go

Startups using the lean method of business are often able to see success a lot faster using the ‘plan

as you go’ method as opposed to writing a traditional, written business plan. According to the lean

method, which you can learn more about from 6 Sigma training at sixsigmatraining.us,

entrepreneurs should place less emphasis on writing a business plan for their startup, instead asking

a series of questions such as who are their target market, what are their predictions for the future

and how their business is identified. The lean method of business changes traditional startups,

stressing that the business plan should not be a single event but rather something that is regularly

revisited – giving entrepreneurs the opportunity to make necessary amendments and improvements

as soon as possible.

Less Writing, More Planning

For many new entrepreneurs who are looking to form a startup, the whole idea of writing a business

plan can be enough to put them off. The traditional business method means that entrepreneurs

need to spend weeks or even months coming up with a written plan, often without anything to test

the plan by or any validation from expert outsiders. Because of this, it’s no surprise that the lean

method of business is becoming an increasingly more popular choice amongst new entrepreneurs.

Since the core ideas of the lean method involve planning as you go, learning and failing as quickly as

possible in order to track performance and become more successful at a quicker rate, it’s the best

choice for entrepreneurs who want to get their business off the ground without delay.

Lean Method Key Components

The lean method of business is made up of a number of key components, all of which are beneficial

to the success of a startup in any industry. One of these components is focusing on the customer,

which is absolutely important for any startup – after all, ensuring customer satisfaction and

providing customers with what they want is a sure fire way to increase a business’ chances of

success. It also includes progress tracking in order to make changes and amendments to the business

plan, giving startups using the lean method a higher level of flexibility.

 

Would you consider using the lean method as an entrepreneur? We’d love to hear from you in the