Diagrammo Management theories explained

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The Lean Startup

The Lean Startup

The lean startup is a management methodology for startups to develop an idea into a business. The lean startup was created by Eric Ries and offers a different perspective on business strategy. The model indicates that startups do not exist only to make money as quickly as possible, but to learn how to build a business.

The Lean Startup

The Lean Startup offers a scientific approach to creating and managing startups, products and services. The method teaches organisations how to accelerate their business and create new products. Many startups spend months or even years perfecting a product while never speaking to prospects.

The Build-Measure-Learn feedback loop

A core component of the Lean Startup methodology is the build-measure-learn feedback loop. First, an organisation has to figure out the problem that needs to be solved. Then, a minimum viable product (MVP) should be developed to begin the process of learning as quickly as possible. Once the MVP is established, the startup of organization can work on tuning the engine. This involves measuring with actionable metrics so new questions can arise to learn from.

Build – Code faster

Make a quick prototype or develop a method with which you can test hypotheses quickly and accurately:

  • Unit Tests
  • Usability Tests
  • Continuous Integration
  • Incremental Deployment
  • Free & Open Source Components
  • Cloud Computing
  • Cluster Immune System
  • Just-in-time Scalability
  • Refactoring
  • Developer Sandbox

Measure – Measure faster

Measure results with actionable metrics:

  • Split Tests
  • Clear Product owner
  • Continuous Deployment
  • Usability Tests
  • Real-time Monitoring
  • Custom Liaison
  • Funnel Analysis
  • Cohort Analysis
  • Net Promoter Score
  • Search Engine Marketing
  • Real-time Alerting
  • Predictive Monitoring

Learn – Learn faster

Learn from the results. The results give an organisation new input on how to improve the product or service:

  • Split Tests
  • Customer Interviews
  • Customer Development
  • Five Why’s Root Cause Analysis
  • Customer Advisory Board
  • Falsifiable Hypotheses
  • Product Owner Accountability
  • Custom Archetypes
  • Cross-functional Teams
  • Smoke Tests

The company that is able to repeat the process in the fastest way has a competitive advantage.

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