There’s a new vocabulary around entrepreneurship this year: it’s from the Lean Startup movement, and it is centered around making effective use of resources to reduce the chance of failure. Started by Eric Ries, it has captivated not only Silicon Valley, but startups worldwide.
The principles of the Lean Startup are nothing new, but they often seem novel to the engineers who design today’s products. The engineer looks to finish or improve the product, forgetting that the most important part of a business is not the product, but the customer. Without the customer, there simply is no business and actually not much point in improving the product. It’s the old idea of features (what the product can do) v. benefits (what the customer needs). Customers pay for benefits, not features.
To read the full, original article click on this link: What is a Pivot, and Does Your Startup Need One?
Author:Francine Hardaway
