6 Hacks to Going Lean… or Going Home

By Nicolas Theoret

1. You never fail, you learn.

Be open to wins — but more open to failures. And, if you are going to hit a roadblock, hit it early and slow. Once you’ve picked up momentum, hitting a roadblock is a different story. The devil is in the details; find the devil before you’ve invested millions into the wrong idea, product, or business.

2. Move Fast or Die…a Slow Death

Speed is the name of the game. Patents won’t save you, neither will non-disclosure agreements (NDA’s). The average patent takes 2-4 years to be approved; plenty of time for any competitor to steal and duplicate. The faster you go to market and generate traction of any sorts, the better off you’ll be — the key is in the MVP! (Minimum Valuable Product)

3. Legacy Over Currency

Focus on building a legacy. If you are in it for the money — you are in it for the wrong reason. The reason people leave corporate jobs is to do something meaningful. So, DO something meaningful. You will quit if your heart’s not in it for the right reasons.

4. Invest in People

People are your best asset. Invest in developing a team of leaders, not just employees. Invest in developing a company culture that supports a team atmosphere — not a dictatorship.

5. Take Responsibility for the No’s

“No’s” are not problems, they’re opportunities to improve. Even customer complaints are opportunities to strengthen your relationship with those customers. That is what “Yes’s” can’t provide. One thing stands between you and successful people — the amount of “No’s” encountered and learned from.

6. Build-Measure-Loop

Form a hypothesis. Build a minimum viable product. Measure the effect. Get feedback and form a new hypothesis. It’s not as easy as it sounds. As the startup I’m involved with, Jacket360, pushes to develop our MVP, we continuously find new ways to form a better hypothesis and smaller iterations of our product. The applicability of the build-measure-loop is the true beauty of this concept. It has reduced waste in design, engineering, business, marketing, the list goes on. It can even be applied to our daily lives — iterating continuously to achieve our better selves.

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