106: Being Lean in Your Business [Podcast]

How to get started and grow fast without spending cash

Lean Startup is a term I hear often. Recently, I was asked to talk about Lean Startups to a corporate group, followed by being asked to speak to a high school class on the same subject. So I wanted to share with you. Lean startups is about about starting or growing a company without going broke. It is a process for entrepreneurship.

Lean Startups

Image is by Stephen Radford (modified) is licensed under CC BY 2.0

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Video

Validating Your Business Idea – Quick Notes from the Podcast

  • The myth and reality of entrepreneurship – Life in a Van down by the river.
  • What is a minimally viable product (MVP) and why does it matter?
  • Why we need an MVP and the resistance!
  • How to use the Lean process to get to the MVP.
  • Our own examples of being in scope creep mode and how we got out.
  • No matter how much you plan, you will be wrong.
  • How to size your startup by determining the potential revenue.

Resources (Some of my favorites)

Check out Entrepreneur Dream Academy!

This podcast was supposed to be the 4th in a series I was doing with Anthony Witt from The Champion Entrepreneur – but things got lost in the mix and I just put this out. Anthony and I are still working together on Entrepreneur Dream Academy (See below). Check out the other podcasts we have done in this series:

Want to learn how to find your passion and make it profitable? Anthony and I are launching Entrepreneur Dream Academy in mid-September! We will be coaching a small group of hopeful entrepreneurs to help them find a business they love and develop a solid plan. We will walk each person through the process and give them the tools and connections they need to make a real go of it. Have you ever dreamed of starting a business? Have you ever thought about leaving the corporate world? Or are you just looking for something on the side. (Everyone needs to make 25% of their income from a side business – see why here!)

**We are only going to take the first 8 who signup. Once we have 8, it closes!

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