How to Ideate and Go lean!


As Victor Hugo remarked, There is nothing more powerful than an idea whose time has come.

The Idea: The idea is an iterative process of the mind, which develops over purpose, utility, imagination and design. Each raw idea goes then to the concept of validity and its feasibility in the marketplace. The idea then goes to the design thinking mind mapping process, where the idea is distributed like algorithmic process and enhances connections between the idea stage to the development stage to the product-market fit stage to customer acquisition stage.

Ideation Platform: One of the finest ideation platform is designed by Silicon valley serial Entrepreneur and founder of Lean Startup movement, Steve Blank. Steve Blank has proposed the LeanLaunchPad (www.leanlaunchpad.com) for educators, researchers and entrepreneurs to track down the complete ideation to customer ready prototype process in the Business Model Canvas platform, which questions the effectiveness of the static business plans that ends up as on-paper forecasting mechanism and fails to move ahead to create real business impact.

Customer Development/Pricing Model: As Mark Tyson said, Everybody has a plan until they get punched in the face, it holds true for startups that meet their customers for the first time. So, a set business model till the end without any tweaks and feedbacks will mostly result into a disastrous and not disruptive business model. The customer development process requires start to end iteration over their product launch and from valuable feedbacks from friends, relatives, suppliers, manufacturers, designers to the end customers. The economics of these feedbacks will then result into a better product and holds up the competition between players in the same industry over innovation and tweak-to-ready business models. As we collectively decide the market forces that affect us, the pricing model should also be the result of these feedback amplification process. A right pricing model determines largely the revenues over year per unit/service sold and the first 48-hour launch sales will introduce how the product is positioned in the market and in the social blogosphere. The pricing models should be varied and ranked with the different features the product provides and the value it creates in the end. The human tendency to react to several products with variable features make the product-market fit more predictable. The distribution channels and more affordable customer acquisition strategies are to be tweaked according the responses and interactions directly with the customer.

Lean Development: The ‘going out in the crowd’ approach will help rebuild and re-enhance the product development process using those customer feedbacks and will help in building the distribution channels and more effective and affordable ways to acquire more customers. According to the Lean Startup, the small tweaks in the product are referred as ‘iterations’ and larger, significant tweaks are referred as ‘pivots’. The value proposition of the startup/project has to be defined keeping in mind the larger impact the product is envisioned to make, like the BHAG (Big Hairy Audacious Goal) of any organization. A scalable, repeatable hypothesis of the business models is the foundation of the Lean Startup movement.

Here’s the Lean Launchpad Methodology proposed by Steve Blank for educators and entrepreneurs.

Other articles related to Lean Startup: 

Amazing insight on Lean Startup by Steve Blank


Published in the recent Harvard Business Review.

Download it here: https://archive.harvardbusiness.org/cla/web/pl/product.seam?c=25903&i=25905&cs=f85785d3580feb87e2bce1535af10c2f

To know more about the Lean Startup movement and the book by Eric Ries, visit the website: http://theleanstartup.com/

Read efficiently and implement if you are an Entrepreneur or trying to become one.