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Lean Start-up Principals
- Adopt iterative, Agile approaches to business, rather than linear waterfall approaches.
- Avoid rigidity and fragility — embrace ‘antifragility’ instead — or be robust to unknown Black Swans, such as global pandemics.
- Believe in a 21st century innovative economy that favours elasticity in many small, flexible enterprises.
- Consider everyone a customer, not only businesses that fit the target-group shown in a plan.
- Develop commercial directions iteratively and incrementally from a basic ideas canvas.
- Embrace alternatives to Business Plans, five-year forecasts and pitching products or services.
- Favour experimentation and iteration over planning and ‘up-front’ design.
- Favour quick, low-cost start-up methods over lengthy, expensive, fragile planning cycles.
- Foresee that established industries will change or be replaced by dynamic, innovative flexibility.
- Learn continually from ‘fail-fast’ systems, avoiding unnecessary, wasted input.
- Recognise knowing the unknowns in advance is impossible.
- Recognise no single idea or offering guarantees success; Lean Start-ups result in fewer failures.
- Reject ‘do not change what is not broken’ notions (susceptibility); invent new methods (robust).
- Respond to customers’ feedback, needs and wishes by redesigning approach, focus and direction.
- Search for a business model rather than plan for one.