The concept of a lean startup is one of the central and most widely accepted ideas in Silicon Valley and other technology hubs. Learn how to start with a "minimally viable product" and to engage in relentless experimentation around all aspects of the entire business model.
- In early 2009, Jenn Hyman and Jenny Fleiss…co-founded Rent the Runway,…a rental service for young women's high-end dresses.…Their premise, on certain occasions,…like a prom, a wedding, or a graduation,…women would love to wear designer dresses,…but they often don't have the money to buy them.…Even if they could buy one,…it would just hang in the closet much of the time.…
What if they created a mail order rental service,…similar to what Netflix had done with DVDs?…While the basic idea seemed promising,…the pair knew they must find answers to dozens of questions…before they could be somewhat confident of success.…For instance, how large is the market for such a service,…what kinds of dresses, what rental price,…also what about operations and logistics?…Should they add other individuals to their two person team?…If so, who?…When should they seek external funding and many others.…
Questions like these represent sources of uncertainty,…not just for every start-up,…but also for every innovative idea…within an existing organization.…
Anil Gupta
Haiyan Wang
Released
8/3/2017LinkedIn Learning (Lynda.com) is a PMI Registered Education Provider. This course qualifies for professional development units (PDUs). To view the activity and PDU details for this course, click here.
The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
- Fundamentals of innovation
- Fostering creativity without losing control
- Design thinking
- Lean startup
- Redefining customer value
- Digital transformation
- Social innovation
- Frugal innovation
Skill Level Beginner
Duration
Views
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Introduction
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Welcome2m 22s
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1. The Fundamentals of Innovation
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The core logic of innovation4m 24s
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2. Nurturing the Innovation Process
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Design thinking5m 39s
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Collaborative innovation5m 10s
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3. Different Types of Innovation
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Redefine customer value5m 9s
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Re-engineer the value chain6m 33s
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Frugal innovation5m 41s
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Digital transformation6m 28s
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Social innovation5m 44s
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Conclusion
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Next steps2m 23s
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Video: Experimentation and the lean startup process