The lean startup by Eric Ries - Book Report/Review Example

He believes that with the small beginnings, business organizations can make several milestones. This essay is an analytical review of the Lean Startup. Through the general review, the essay shall evaluate the various aspects of the Lean Startup. When Ries came up with the Lean Startup in the year 2011, his main idea was to assist the upcoming business organizations cut down on the initial cost of launching new products and services. In the book, Ries emphasizes that the Lean Startup can actually help businesses make short the product development cycle.

The product development cycle, according to Ries, can be shortened by adopting and appropriately implementing various experimentations based on the predesigned hypotheses of the business. This implies that a business organization has to formulate some hypotheses before the launch of a new (Ries 12). These are the speculations or the expected outcomes from experimentation. A business organization must, therefore, have a positive vision and short term goals during the launch of a new product or service.

For instance, an entrepreneur may formulate a hypothesis that the customers will like the product (Ries 19). Another method proposed by Eric Ries in the Lean Startup is the design and release of iterative products. These are products that have not been fully furnished to the standard of similar products in the market. According to Ries, the release of iterative products and services is to find out the actual reactions of the potential customers. It lets the customers have the taste of what is come and react thereafter.

Going by this ideology, one advantage comes so clear; the timely feedback from the customers. Ries, therefore, has given many startups a secret to avoid one risk in the market (Ries 23). The feedback from the customers will make the enterprise either proceeds with the production or stop and think of another plan, what