Business and enterprising
started as responses to the demands in the social economies. The demand
development has been continuously expanding; courtesy to the demographic loads
that are experiencing a general increase throughout the world. The rising
prosperities in the social domains are also responsible for the generic
increase in the demand pulls.
The economies are brisk and ever changing!
Inspite of all the
demands development, the business & entrepreneur
initiatives experience more of the challenges and this is because of the ever
complex and dynamic turfs of the social economies. The predictability of the
processes has gone down due to the brisk pacing of the economies and the
processes that underpin them. There are innumerable business firms that feel
the dilemma while planning their products and services development over a
period of time.
They wonder as how to
judge the prospects. This is the reason that the products often miss the
resonances as by the time these are launched towards the consumers, the
latter’s preferences could have moved forwards or deviated! These situations
are typical because great deal of worth and caliber are invested in completing
the product development cycles to ultimately launch the product in the current
competitive markets. This could mean the viabilities for the smaller firms that
have limited finances available at their disposal. So the question is how to
survive the scene? A lean canvas is
offered as the viable route because of the inherent benefits that it offers in
the most fundamental ways resonant to current challenges.
Product development cycles shortened with lean starting
Starting lean was the
idea proposed by Eric Ries lately in 2008. The gist of his theory was that the
firms should adopt a catering model whereby the products and services are
offered as per the immediate emergent demands in the market/economy. The major
implication of this shift in strategy is that the ‘product development cycles’
are shortened and thus the company need not adopt lengthy timelines for the
development and launching of the product.
This fetches the real
time viabilities for the business firm and this in one sense was an idea very
much significant for the startups that are at the high risk of viabilities
getting lost due to many reasons. The company should make its inception level
products by reading the demands that exist as of today; rather than engaging to
develop a product and launch it after 18 months! This makes them lean startup firms that can begin
production even without pooling much of the finances and calibers towards
extensive researches for product development and refinements.
Adopt a lean canvas and start catering
A lean canvas serves as the real time guide. This canvass is a model
paper that is self growing rather than blueprint to be followed for long. Here the
implementations are jotted and corrected/modified to do the refinements as the
catering (of the product) progresses. This transforms into the concept whereby
the Business Accelerator keeps
learning through his mistakes and experiences in the market. Since the initial
capital pooled is less, the losses are never holistic and culminating types.
This way the start up firm is also saved from the perils of colossal failures!
