‘Running Lean’ — Entrepreneur Addiction Radio #31 with Ash Maurya
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Since the Lean Startup was published, it has become somewhat of a bible for entrepreneurs in initiating and managing growth in our time. Ries’ book outlined the philosophy behind the Lean movement. Now he’s partnered with other entrepreneurs to come out with a series of books on how to implement those strategies.
The first of these books is “Running Lean: Iterate from Plan A to a Plan That Works” by Ash Maurya. We talked with him about how to stop wasting money and time by building the wrong products and the wrong business. He discusses concepts from “Lean Startup”, customer development and bootstrapping. The practical applications make this show one of the most valuable that we’ve done so far.
About The Guest
Ash Maurya is the founder of Spark59 and has launched several startups. Through his running lean workshops, he’s worked closely with entrepreneurs to help them test and refine their vision. Ash holds mentor roles with startup accelerators around the world such as Mozilla Foundation, Year One Labs, and Capital Factory. Follow him on his blog at AshMaurya.com and on twitter at @ashmaurya
Turn up your speakers or put on your headphones, and enjoy the conversation:
Highlights of ‘Running Lean’
- Ash Maurya – author of ‘Running Lean’
- The how-to guide for Eric Ries’ popular book ‘The Lean Startup’
- The upcoming Lean Series
- Too much time building, not enough time testing
- Why we fail at building what customers really want
- Initial goal should be all about learning
- The zombie entrepreneur
- Problem, solution, fit
- Determine what customers would want to pay for
- From idea to testing to accelerating plan
- Customer validation
- Faith vs Testing
- The importance of testing and the scientific method
- Most business plans are wrong
- Constantly updating plan
- Learn at every point
- Why Plan A should really be Plan X or Y
- What is the business model hinging on
- Why pricing is the most difficult part of the process
- Identify customers, their problems, and how you’ll find those customers?
- How Ash used these same principles to write his book
- How to test your own product or service
- The Food Trailer Phenomenon
- It’s not about where you want to end up, it’s about testing along the way
- Look for strong signals that encourage you to move on
- The ideal time to pursue business financing, investors and business loans.
- The first thing to do once you get funding
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