Lean Toolkit

Hi. [cite_start]In the last module we discussed how to evaluate an opportunity, and when we concluded the module, it would be clear to all of you that while you need to evaluate an opportunity. [cite_start]It is at best an imperfect method. [cite_start]You can never be sure if a particular opportunity is a great business opportunity until you actually enter the action arena.

[cite_start]In this week's module, we are going to be moving into that action arena with the Lean method. [cite_start]So, I'm sure you have all heard about the Lean method. [cite_start]What is the Lean method? [cite_start]It's a set of tools and decision-making rubrics that help move an idea towards a viable venture, which is why I said it is something that helps you with action because like we said action is the eventual ultimate evaluation of the idea.

[cite_start]You don't know whether it's going to work until you take action. [cite_start]So, how do you take action? [cite_start]That's at the heart of the lean method. [cite_start]Now, why is this lean method important and what is, how is it different from the traditional method? [cite_start]The traditional methods of course all assume that you can predict and plan, whereas the lean method operates on the assumption of uncertainty.

[cite_start]It is actually a method that has been designed to counter the uncertain nature of the venture building process, and that is why it is important.