Lean Startup is Really Remarkable Tactic to go with

The emergence of a new age phenomenon is swiftly catching the imagination of entrepreneurs. What began as a new method of running new companies has now taken the shape of a movement. It didn’t happen overnight. Without valid reasons that can’t happen as well. That’s true. Is it a force to reckon with??? Yeap, that’ absolutely right.

Conventional Methods have been a Disaster for Startups

Research and development on the new enterprises brings forth shocking statistics. Not many of you will digest that research. Irony is it’s a fact, can’t be undermined.

A research by leading business school, Harvard Business School throws painful data pertaining to new businesses. The research shows 75% of all startups fail to survive the crowded market’s challenging competition, forcing closure of the business.

This clearly reflects unless new businesses have a flawless plan, they can’t think of overcoming the market pressure, including product or service rollout, customer feedback, and operational cost among others. Industry insiders are also of the view that conventional rules of the game are no more effective in the current market landscape.

Industry Abuzz with the New Formula

Leveraging the contemporary formula, many startups are defining their course for future. Do you know how??? The contemporary business mechanism renders emphasis on an amalgamation of business-hypothesis driven experimentation, result of a comprehensive research and development on startups, their mechanism, challenges, management, and operational cost among others.

Innovation Accounting

Here I would like to highlight the importance of innovation accounting. Lean startup comprises a set of pertinent rules integral to the success of new businesses. Innovation accounting is one such rule. According to this step:

• New enterprises should build a model of customer behavior over a period of time.   
• Leverage the first step to alter the product or service and alter the behavior of customers, prospective customers.
• Establish facts, focusing on validity of the mission and vision of the company.
• Ensure sustainability.

That clearly reflects the soul of lean startup. For new businesses, it is clearly a game changer, enabling many new companies in scaling up.

The beauty of lean startup is right from the sowing of seed of a new business till the business starts delivering desired results, it keeps virtual monitoring. What does it mean??? Such a move enables in plugging the bottleneck then and there, leading to growth.

Bank on Innovify

Innovify is driven by vision to enable startup companies realize their strategic growth, full potential. We are passionate about what we do-to help new businesses establish as a brand. In fact it’s our niche!!! In a short span of time, we have been instrumental in pushing up the growth of many new businesses.

For further information, feel free to contact at: E-mail ID: info@innovify.com, Website: www.innovify.com