Gady recently posted about lean start ups, a management approach tailored to getting start ups running quickly. The term is usually associated with serial entrepreneur named Eric Ries. According to the Wall Street Journal, here is brief version of the approach (Philosophy Helps Start-Ups Move Faster, May 20):
Mr. Ries’s Lean Startup philosophy aims to help new companies make speedier decisions by taking a more disciplined approach to testing products and ideas and using the resulting customer feedback. Instead of building a software product over months and jamming multiple features into the product, for instance, Mr. Ries advocates continually deploying new software to test whether customers actually want a particular feature. That enables a start-up to more quickly decide if the feature is a waste of time to build and if so, to move on. “Lean isn’t about being cheap [but is about] being less wasteful and still doing things that are big,” says Mr. Ries.
In addition, here is an interview with Ries discussing the concept:
Vodpod videos no longer available.