106: Being Lean in Your Business [Podcast]

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.

Image is by Stephen Radford (modified) is licensed under CC BY 2.0[/featured-image]

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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.

“Starting Lean helps you avoid entrepreneurial scope creep. #entrepreneurship”]

Resources (Some of my favorites)

• The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses
• EntreLeadership: 20 Years of Practical Business Wisdom from the Trenches
• The Art of the Start 2.0: The Time-Tested, Battle-Hardened Guide for Anyone Starting Anything

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:

• Episode 102 – Finding Your Why
• Episode 103 – How to Find Your Passion and Your Why
• Episode 104 – Validating Your Business Idea

Want to learn how to find your passion and make it profitable? Anthony and I are launching the 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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