Lean Start-ups and Business Plans

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Lean Start-ups are used for developing products and businesses based on ‘validated learning’, getting customer feedback quickly and often. It was introduced by Eric Ries during 2011 (1) with the objective to eliminate uncertainty in the product development process. Since then, this practice has transformed the way companies are developed (Natasha Hussein, Entrepreneur).

Most astonishingly was the news that Lean start-ups have made business plans redundant. Indeed, a whole industry has grown up around the idea that business plans are now no longer necessary, says David Ehrenberg, Young Entrepreneur Council in the Chicago Tribune.

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Get your Business Going with Startup Marketing

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Two months into your online business and something is terribly wrong. You haven’t made one sale thus far. What could be wrong? After all, you’ve got the best eCommerce platform, with stunning graphics and detailed product catalogs. Even more, every product your site has a picture with a price and a description about its features and attributes. And yet, no sales. The thing that is wrong is that you haven’t done startup marketing.

No wonder nobody finds your website or talk about your business in the social media channels. Without a marketing strategy in your startup plan, your website will eventually be doomed to the darkest corners of the internet.

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The Reasons Why Start-up Businesses Fail

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It seems that start-up businesses fail more easily than established businesses. Many good business ideas have been vacated by entrepreneurs because of the fear of failure. Furthermore are venture capitalist and banks hesitant to fund start-up businesses because of their perceived high failure rate. But what are the reasons that  start-up businesses fail?

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What is keeping you from starting your own business?

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The factors that may keep you from starting your own business can be found at two distinct places – in your head and in the environment. Although managing the situation at both places demands hard work, it especially requires learning. Learning about yourself and learning about your environment. The psychological battle starting your own business will now be discussed.

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Why do you want to start your own business?

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Every one of us that has consider to start your own business has been triggered by something to do so. Normally, the trigger changes our behaviour. Here are some triggers that may call us to action in opening our own business.

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