Eric Ries’ concept of the lean startup—the idea of creating a “minimum viable product” to get customer feedback to iterate on—has become a battle cry for startup founders. But some are taking it to an extreme, writes OPEN Forum contributor Barry Moltz. “Founding a company isn’t simply about throwing a bunch of ideas against the wall and seeing which ones stick with customers,” he says. “It’s about investing time, energy and money into creating a superior product or service that truly solves a deep pain for their target market.”
Here’s a few tips to keep in mind to do just that.
1. Find real paying customers.
2. Landing a first customer doesn’t mean 10 more will follow.
3. Reputation only gets one chance.
Read on for seven more ways to truly stay lean during startup.
To see what we mean, read small-business expert Mike Michalowicz’s take on the importance of paying yourself what you’re worth on OPEN Forum.