Lean Business Exploration

Introduction

The lean approach (as in lean manufacturing and lean startup) focuses on, amongst other things, reducing waste.  This is different than reducing spending, e.g. in a bootstrapped startup.

The lean approach to commercialisation of innovation is very different to the traditional commercialisation of innovation. In fact, it’s radical innovation in innovation itself.

Traditional Commercialisation

The traditional approach to commercialisation is usually based around the product or service development, with key milestones related to that process, with minimal market research or customer discovery.

This is the “build it and they will come” approach to innovation and commercialisation that has led to so much waste, even if the terminology of Lean Startup is used (i.e. nothing really changes).

Lean Business Exploration

The Lean Business Exploration approach is based around customer development, i.e. searching for and validating a business model rather than just building the product or services.

Lean Business Exploration uses both agile product/service development and customer development to test hypotheses around the commercialisation.

It is an evidence-based approach to commercialisation.

It has many benefits, including:

  • Reducing the chance of failure,
  • Reducing waste, and
  • Being more adaptable.

Resources

“The Lean Startup” by Eric Ries

“The Startup Owner’s Manual” by Steve Blank

“Running Lean” by Ash Maurya

“Business Model Generation” by Alexander Osterwalder et al.

Eric Ries Blog:  http://www.startuplessonslearned.com/

Steve Blank’s Website:  http://www.steveblank.com/