Takeaway from : The Lean startup

Book Link : https://www.goodreads.com/book/show/10127019-the-lean-startup

Takeaway Learning

Build-Measure-Learn. The fundamental activity of a startup is
to turn ideas into products, measure how customers respond, and
then learn whether to pivot or persevere.

The goal of a startup is to figure out the right
the thing to build—the thing customers want and will pay for—as
quickly as possible.

Audience beahviour from the market is much valuable compared to what assumed

Before making any decision, we need to consider the value hypothesis
– what values it can add
– what are the value indicator
– how the impact will be measured

Before starting we should make question
– Do consumers recognize that they have the problem you are trying to solve?
– If there was a solution, would they buy it?
– Would they buy it from us?
– Can we build a solution for that problem?

What differentiates the success stories from the failures is that the
successful entrepreneurs had the foresight, the ability, and the tools
to discover which parts of their plans were working brilliantly and
which were misguided, and adapt their strategies accordingly.

The best step in understanding a new product or service is to figure
out if it is fundamentally value-creating or value-destroying.

The rate of growth depends primarily on three things: the profitability of each customer, the cost of acquiring new customers, and the repeat
purchase rate of existing customers

Gtting stuck in the land of the living dead :
happens when a company has achieved a modicum of success—just
enough to stay alive—but is not living up to the expectations of its
founders and investors. Such companies are a terrible drain of
human energy. Out of loyalty, the employees and founders don’t
want to give in. they feel that success might be just around the
corner.

The five -whys, a soltuion tragetting approach.

Validated Learning / Measurable Outcome Metrics / Actionable Items are the only way to progress

Stop Production before it stop prodcution. figure out the Root cause of a breakddown as early as possible before it make further changes.

Single-Piece Flow warpping envelope, [one enevelope, one letter, and seal it], if you are doing for 100, it seems that do at a task one time is more effecient, as fold 100 envelope once, then put the letter, then seal it, However, doing it one at a time is more effecient.

and much more,

developerCK

E-learning Solution Architect | Technical Enthusiastic | LAMP Stack Developer | AWS Cloud Solution Architect (2x) | OCI (5X)

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