Lean Startup, a business methodology that once reigned supreme, is now facing criticism and being replaced by other approaches. The methodology, which emphasises the creation of minimal viable products (MVPs), rapid iterations, and pivoting, is being challenged for promoting a culture of haste and superficiality. Critics argue that Lean Startup encourages startups to rush products to market before they are fully developed, leading to substandard offerings.
Responding to these concerns, some entrepreneurs are adopting a ‘Crafted Startup’ approach, which emphasises quality over speed. This approach encourages startups to take the time to craft high-quality products, even if it means slower growth and longer development times.
Simultaneously, the ‘Fat Startup’ strategy is also gaining traction. This approach encourages startups to secure large amounts of funding and pursue aggressive growth, even at the risk of burning through cash quickly.
These shifts reflect a growing recognition that while Lean Startup has its merits, it is not a one-size-fits-all solution. Entrepreneurs are increasingly tailoring their strategies to their unique circumstances, resulting in a more diverse and nuanced startup landscape.
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