For every wildly successful new company or product, there are hundreds more that simply fade away. Why is the failure rate so high?
According to Eric Reis, author of the 2011 classic "The Lean Startup," most new projects fail because they use the wrong processes. They waste time, money and resources, they're too slow in getting the product to market, or customers just don't want the products or services that they're offering.
In his book, Reis demonstrates how concepts borrowed from lean manufacturing methods can shorten product development cycles, test the vision, and manage growth.
One such concept is "genchi gembutsu," which loosely translates as "go and see for yourself." Here's an example of what this concept looks like, taken from our Book Insight podcast review of "The Lean Startup."
Listen to the full Book Insight in the Mind Tools Club ¦ Install Flash Player.
If you're thinking about starting a new business or launching a new product, and you want to avoid the traps that have thwarted other startups in the past, don't miss our latest Book Insight on "The Lean Startup."
Question: How do you think the concepts behind lean might help your next business, or your organization's next product launch? Join the discussion below!
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What is the difference between lean manufacturing and lean six sigma and how it is showing effect to start a company?
I am Business man and going to start a new automobile industry so i have used the lean manufacturing method. Lean manufacturing and Lean Six Sigma is different from one another. Lean manufacturing uses the technique of 3M i.e Muri, Mura and Muda where Muri refers to process preparation, Mura refers to elimination of mistakes and Muda refers to the elimination of unnecessary things after the production of product like transport, Inventory, Motion, Waiting, Overloading, Overprocessing and Defects .Lean six sigma is a combination of lean manufacturing and six sigma which is a removal waste it uses Muda concept here. Lean six sigma has an organization structure first Black belt refers to project leader, second Green belt refers to the DMAIC, tools usage and lean applications, and third Yellow belt refers to the Lean Six Sigma awareness. While starting a company it is best to use lean manufacturing. I hope this information is helpful to you !!
Hi Bandi and Wilson,
Thanks for asking the question Bandi and thanks Wilson for sharing your experiences.
Bandi, if you have more questions, have you considered joining our Mind Tools Career Club - https://www.mindtools.com/signup/monthly/usd?trackingtag=jointr In addition to the resources you gain access to, you can also post questions and receive input from other members. It's a great place to learn!