If you believe that lean startup methods lead to cheap products and companies, or that lean startup companies don’t think big, think again. The digital revolution, globalization and technology platforms have forced companies to bring products to market faster than ever to stay alive, and even behemoths such as Experian are benefiting from a lean startup philosophy.
In light of the numerous misconceptions about lean startups, I thought it would be useful to clarify a few things for entrepreneurs and innovators. That’s how I came to talk about the subject with Eric Ries, consultant, and author of The Lean Startup, during Lean Startup Week in November.
Flush with fallacies
The lean startup methodology is an approach for getting new products — and startups — to market using the fundamentals we learned in science class. Many hear the term “lean” and assume it means a startup that frequently cuts corners to save time and money. That’s incorrect. Instead, a lean startup…