Ohhhh crap!!!! How did I end up building something no one wants!!!

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Ohhhh crap !!!! How did I end up building something no one wants!!!

Story Life of every other founder.

Did you know According to a study by Harvard business school, there are over 30,000 new products introduced every year, and 95% fail ?

In fact The research concludes 21.5% of startups fail in the first year, 30% in the second year, 50% in the fifth year, and 70% in their 10th year.

But now the question is why do so many businesses fail?

I'll tell you why

Because most of the business.

End up building something no one wants !!!!!

Ouch !!!!! it hurts right?

I mean yes you spent thousands of dollars on recruiting an excellent team.

you had a brilliant idea and you had all the right marketing strategy in mind…..

But believe me my friend….

No matter how great your Product idea is

Or

How technically strong your team is .

If you want to stay in the business for long, you need to keep on delivering something that is valuable for your customers.

And this is where most of the people fail.

Yes

Many developers / engineers/ founders Don't get this

They always try to do Big Bang deliveries.

They try to build a product until 100% done and deliver at the end.

which results in either –

A - They fail miserably

B - They do manage to deliver something that can make them money. (but who are we even kidding ? this is delusional and the chances of this happening is very slim unless you are god's favourite child )

So you see It's like bringing a knife to a gunfight.

Or climbing Mount Everest in one go without even ever trying to climb a tree.

I mean come on It’s not possible to go from “nothing” to “fully automated Software product in one go.

You cannot deliver a

And I get it, it is scary to launch a product.

None of us want to put something out for public consumption before it’s ready.

They might reject it,,,

Or make fun of it..

But at the end you will understand it more clearly

But It is literally a suicide mission.

And it's hella risky.

But That’s why Lean Product Management was created.

Lean product development is a process for building products faster with less Waste. It's about the creation of value.

It is often referred to as the Minimum Viable Product (MVP) strategy, in which The team releases a bare-minimum version of its product to the market, collects feedback, learns from their users, then iterates based on this feedback.

Lean Product management derives its values from 2-key pillars

• Respect for People.
• Continuous Improvement.

• Continuous Improvement - Product development is a continuous Process and lean management Focuses on continuously improving the way you work by constantly experimenting , Knowledge sharing, collecting feedback, Learning from mistakes and continuously delivering quality and removing waste.
• Respect for People - Respect for people is a core pillar of Lean philosophies. And let me tell you one thing, it is not about being polite. It's about respecting an idea, an opinion, establishing a culture of shared leadership and Accountability.

Wrapping up -

The ultimate goal of any founder is -

• Fast and quality delivery with less wastage for their customers. And
• Creating a culture of innovation, collaboration and positivity for their employees

And this is what lean management does. I can tell you from my personal experience that Lean is something that should be implemented in every organisation ,not only in tech but in every department and at every level.