My Opinion On The Lean Startup

1255 WordsMar 24, 20176 Pages
The Lean Startup shows that creating new innovations needs to have order and structure. The book covers important steps in order to be successful creating or producing anything to consumers. In my opinion, this book is about ideas, steps, and the mechanisms that are needed to not only have a successful startup but always maintaining what you create for consumers. Everything will always begin with an idea, then that idea would move to be built. The lesson the book taught me was that although you have an idea and think that people will purchase it; measuring and testing that idea should come first. There always has to be organization and steps before taking that leap of faith. Entrepreneurship is management; therefore any start that is being…show more content…
Innovation accounting really is the best way to find out the outcomes for a startup. “This requires a new king of accounting designed for startups-and the people who hold them accountable” (Ries 9). This type of accounting really digs into the not so pleasant aspects of a startup and teaches the fundamental questions of how things will be done. This step requires the entrepreneur to turn his assumptions into a business model. The key this step requires analyzing the simple question of how the customer will profit, how much has to be spent to be able to receive more customers, and lastly the rate of customer that have already purchased. Innovation accounting can show whether or not a startup will succeed or need to make some adjustments for improvement. “An example would be a business that grows through continues fund-raising from investors and lots of paid advertising but does not develop a valuable-creating product (Ries 85). The main focus of the innovation accounting step would be to help see the difference between false growth and startups from true innovators. Build-Measure-Learn is when the idea and the product combine to one. An idea is something established in the entrepreneurs mind that were soon become something tangible. Step one; you build the product that you had an idea about and then actually create the product for consumers. The building stage needs to take into account the time and money that it will take to create the product. Step two is measuring

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