Most products brought to market fail. Tech Entrepreneur Ash Maurya says this is "not because we can't complete what we set out to build, but because we waste time, money, and effort building the wrong product."
Maurya is the author of Running Lean: Iterate from Plan A to a Plan that works, and creator of the Business Model Canvas.
Listen to this episode for three core lessons all innovators need to know to build businesses and products in a world of uncertainty.
The most important thing to remember is that businesses are living creatures that are co-created with their customers. This is the same of tech products: apps, sites and algorithms get released, then people use them, the product makers analyse behaviour and then make a better version.
This is why Maurya says (and I agree) that writing a business plan is a form of waste. It takes a long time to do and is usually an exercise in imagination.
It is better to create a Lean Model Canvas and iterate your business plan as you would your product - with feedback from your users.
Watch the full lesson on the Tech for Non-Techies YouTube channel: Running Lean Book Review: Tech for Non-Techies Book Club.
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