The path to win the business competition is that we have to learn faster than other parties. Hello all! My name is Michael. Welcome to my channel: Si Kutu Buku! This time I will discuss the book The Lean Startup by Eric Ries. Before we start, for those of you who want to support this channel to continue creating, it is really easy, you really click subscribe and turn on the bell. Your support really facilitates so that we can post regularly and learn together on this direct. This volume discusses how effective startup makings are able to produce fantastic results. Countless startups disappoint, but countless downfalls can actually be anticipated in advance.In his book, Eric characterizes a startup as not only a new company it’s an organization that has a responsibility to create something new in very uncertain conditions. This organization could be a startup company or the Board of Directors of a Fortune 500 corporation. The common yarn of the two is that they have a mission to break through uncertain conditions to find a itinerary to success. Instead of spending time creating composite business strategies, Fellowships are forced to adapt and adapt to shoppers before it’s too late. I summarize it into three important points from this work: First, Don’t focus on the business plan The conventional path is, typically every founder has to make a very complex business plan until the next five-year plan. All schedules are often in the form of a exhibition exclusively and has not been able to been measured directly to buyers. When the founder got the money, only then did he begin to assemble a unit and form his product.When you start selling your first product, that’s when the commodity comes in direct contact with the consumer. That’s the reason why numerous startups fail. Eric clarified, when performing produces, companies must engage consumers and ask for feedback while developing the product, so the produce continues to be improved until its launch time starts. Successful startups are able to adapt from one is inadequate to another and stretch with buyers. An interesting pattern is from Nick Swinmurn, founder of Zappos, the world’s largest online shoe accumulation. Before online shop became a lifestyle, Nick experimented whether consumers want to shop for shoes online or not. He went to see a shoe store and asked permission to take a photo of the products. After that, Nick posted a photograph of his shoes and see if purchasers were interested or not. If anyone wants to buy it, Nick then goes to the store to buy it and then send the shoes to that customer. With the method used, Nick does not need to have to invest in shoe stock, inventory depot, to start selling. Instead, you can sell instantly with minimum fund and limited resources.There are three big principles in the lean startup method. First, help a hypothesis. Instead of trying to make a perfect business plan, entrepreneurs should concentrate on some untested hypothesis. From there, we can know what added value we can provide to consumers. Second, input from shoppers. In developing concoctions, we must involve shoppers from the beginning. The focus is on adaptability and move. Use consumer input to improve the products we sell. Third, agile development.This is a plan commonly used by the software industry. The process starts with the creation of an MVP or Minimum Viable Concoction, intends the manufacture of a product that encounters the basic needs of the customer, imperfect but still have high-pitched help cost. So what are the benefits? The benefit is that the company didn’t take long to find out whether our commodities are liked by customers or not. second Pivot or forward This is a common predicament in a business. Do you continue with old plans or to be amended with new ideas? This is one of the advantages of the lean startup method, we don’t need to produce a excellent commodity, but we already know whether purchasers like it or not. So, we don’t need to invest a good deal in the beginning without be seen whether our meaning will work or not.When we finally decide to change the idea, it doesn’t mean we reproduce everything from scratch. We can use what we have learned so far as a basis for us to create new approaches. Measuring when to rotate is crucial in business. It makes gallantry be recognised that the idea doesn’t work and dare to move in new tendencies to produce long-term success. The prime focus of startups exploiting lean startup procedures is to learn, learn as quickly as possible what purchasers like, and what keeps the business going in the long run.Eric explained that there are various reasons why business benefactors are retarding rotating. First, the metrics used are not correct. Business performance has many ways to measure its success rate. But, industries must concentrate on the metrics that matter most. Second, the hypothesis is not clear. When the postulates we make are not clear, it will be very difficult to make a sustainable business. Third, afraid to pivot. Admitting misstep can be a dilemma for team representatives within the company.Moreover, by pivoting there is no guarantee of a better future. Nonetheless, if you don’t pivot, the business won’t last in the long run. Third, Adaptation and Innovation Adaptation doesn’t mean settlement about excellence. Frequently, numerous founders take a shortcut. They relinquish character, as long as it’s fast. This is the wrong approaching. When we sacrifice quality, we won’t get the right feedback. Founders must have the right adaptation mindset, minor early mistakes for early stage purchasers are tolerable. But, in the end the products we sell will go to the end consumers and they will not tolerate any mistakes.In adapting, we can use the 5 Why method to be informed about the root of the problem. In every question why we invite, then we’ll dig into what’s the problem behind it. The company’s ability to adapt will enable them to innovate. There is an assumption that if the company has become large-scale, it will be difficult to innovate. This is a myth. It’s true, if the company gets to a certain point, invention feels even heavier, because the business risk is getting bigger. Eric advocated the sandbox innovation method, means that exclusively innovating in one part so that the impact does not spread to other personas, but all unit members are given the freedom to innovate. it drives like this. Each crew is given the freedom to experiment but can only be in the part that has been determined. The unit will work on the project from start to finish within the specified time. This venture will involve a limited number of consumers and use clear perceptible metrics.Then, each team must monitor its progress and immediately purpose the project if something bad happens. In this path, big corporations are able to minimize risks while going new innovations. Being the most wonderful, does not mean the best. But, with the method of continual betterment, will be determined by a sustainable business. Provide comments in the comments column, what readings did you learn when reading this work. Besides that, also provide comments on which notebook you want me to review in the next video. I’ll do my leave, don’t forget to subscribe to Si Kutu Buku Youtube channel. Hasta la vista !.