HOW TO DEVELOP A SUCCESSFUL STARTUP/BUSINESS(HINDI) – THE LEAN STARTUP BOOK SUMMARY IN HINDI.
CONNECT TO GET KNOWLEDGE FROM SOME OF THE BEST MENTORS, BOOKS SUBSCRIBE https://www.youtube.com/channel/UCfhbydY40P2Lli9HuBz8cdA
LIKE THE FACEBOOK PAGE https://www.facebook.com/seekeners
FOLLOW ON TWITTER https://twitter.com/Seeken7
You should know that start up is not about having a brilliant idea executing it and becoming a overnight success .but actually it is handling of extreme uncertainty it is an experiment where we have to test and learn faster than our competitor an experiment where we have no exact idea about the outcome we will get
Similarly most of the startups fail because they work hard on all the technical stuff, spend lot of money time and energy in efficiently creating a product that nobody wants.. remember your question here should not be wheather you can build the product or not but whether you should build it or not . most of them fail because they work on conventional management that is researching the market .coming with a great statergy and delivering a great product . but this approach does not works with startups because the problem is one simply cannot assume the market for the product before lauching it .. we cant predict the response of the costomers before they actually use it
But this failure is avoidable the solution to the above problem is the lean startup methodoly that will avoid startups to fail lean start up is based on the concept of build measure and learn . you should build a minimum viable product then measure the response and reactions from your costomers and learn wheather your ideas are really working the way it should work or you need to change something in it for a better respose . you should repeat this cycle until your product is getting great response
When you start making your minimum viable product start by putting 2 ofr 3 key things which you think will make your start up a success then think how you can test that assumption with the cheap and fastest way possible . remember your mvp is not your final product it is just for testing so make it simple and cheap which should just cover the critical points of your idea and it should have only things which can help you to get a good feedback and make you learn about the product and sales
pivot or persevere
If your key assumption are getting positive feedback then persevere and improve your product to a better one . but if your key assumptions are not getting positive feedback then you should propably pivot that is try to change your execution or focus on different costomer segment or try something different which could bring results and again follow the cycle E.G. Kevin systrom made burbn a check-in app that included gaming elements from Mafia Wars, and a photo element as well. He was worried that burbn had too much clutter and would never be a huge success . so by measuring and learning they came to know that burb users used only one feature more dominantely then any other feature it provided and it was the photography element of the app . so along with his co founder Mike Krieger took a risk dropped all the features expect photography made it better on that feature and this is how instagram was formed.
You may have to experiment a lot to finally get the results you want . most of the people fail in startup because either they quit after not achieving the desired result even after working hard or else they just keep on working harder doing the same thing and expecting a different result . which is not so smart . to avoid failure you just need to pivot or change your approach sometimes . which people usually fail to realize . and sometimes it just better drop your idea if you are not getting any positive response even after completing the cycle many times .
Everything you do should be done considering your customer if you are building something which costomer don’t want then don’t think you will succeed