Can you put your entire business model down on paper in 20 minutes? Author Ash Maurya shows us how.
“Start-ups that succeed are those that manage to find a plan that works before running out of resources.”–Ash Maurya
A key part of our business at Avondale is to pursue new ventures or adjacent businesses where we can leverage our strengths and experience to create value. We sometimes find it challenging, though, to move forward with fundamentally new business models. We tend to have drawn-out debates about how to approach the market, which customers to serve, and whether the new model has merit.
Much of this debate can occur in a vacuum, with only limited discussions with potential customers. We tend to get risk-averse when thinking about the investment required to execute a new model and all the uncertainties around it. As a result, we can get stuck in analysis paralysis: a lot of talking without much forward progress.
Enter the Lean Startup methodology, championed by Eric Ries. Ries’s book and writings contain a wealth of ideas for incrementally building a start-up. Ash Maurya has written a related book entitled Running Lean: Iterate from Plan A to a Plan That Works that gives practical advice and examples on building and testing a business model.
…to read this article in full, visit leading US small business resource, Inc.
