Lean Star-Up Case Study

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Another approach of planning is a new method of starting up a business. It’s called “the lean star-up”, (Blank, S, 2013). Its primary different from the traditional planning is that conventional planning based on assumption of the feasibility of the business. Having those assumption from statistics or other businesses experiences. However, not all successful experiences of any venture means that it will has the same success for other ventures. Here where the lean start-up method making the difference, (Blank, S, 2013). The lean start-up method replacing the other businesses information gathering by making information about the specified business itself. Its encourages the startup entrepreneurs to go to the consumers and ask them about their…show more content…
But that usually does not take the business anywhere more than micro revenue. The second option is to borrow from friends and their family members (Curtis, G). That could take the business to higher level and help to success. However, not everyone has the friends and family to back him up. Their solutions is to either get a loan from the bank or the other option witch is to find an angle investor (Curtis, G). Bank loans are often relatively easy to obtain, but the high interest makes it unfavorable. It may take a high percentage of the revenue which result to a small net profit for the entrepreneur to live on. Furthermore, in case of the business failure, the bank might pursue the entrepreneur to pay back the loan or seizure the object under the mortgage. That leaves use with the last funding option which is the angle…show more content…
All what business start-up entrepreneurs have to do is to be prepared and target the best funding option that suit them.
Mistakes Entrepreneurs Do. Entrepreneurs are the same human as anybody else, and they do the same mistakes as well. The only different is that when entrepreneurs do a mistake in the business will cost them a large amount of money. The entrepreneurs usually do a common mistakes while they startup their businesses. Some of them could be recoverable and the other would destroy the whole business, (Resnick, R, 2010).
One of the worst mistakes that any entrepreneur could do is a starting a business without a plan, (Resnick, R, 2010). The business planning is a rode mapping for the entrepreneur to ensure the business success. It is also a way to measure the business development for each stage, without the planning entrepreneurs will not have any stage to measure anything.
Another mistake entrepreneurs do is focusing more on developing products and services more than marketing, (Resnick, R, 2010). Having the best product or service without the publicity will not help selling them. The consumers need to know about the business and its products. It is extremely important to initiate a marketing strategies to attract the customers to their good product as much the importance of the development of the products
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