ABSTRACT
This chapter discusses the practical lessons associated with the lean start-up approach to those of you seriously considering setting up a new business. Lean start-up begins with entrepreneurs transforming their business ideas into a basic business model. Adopting a lean approach to business start-up also means having a clear vision of your business model. Business models have been linked to entrepreneurial firms since the advent of the ‘dot.com boom’ at the beginning of the twenty-first century. Gradually, turnover increased after the business was formally established in 2008 and within one-year they had to move activities from the family home to larger, rented premises. Gradually, as the business increased in size and the boys became more professional in managing Jazooli, then they paid more attention to the value-creating components of their business model. The lean start-up approach was initiated by Eric Ries who authored a book about his practical experiences as a young entrepreneur.
