The third mentorship session of “Be The Star of Entrepreneurship” 2022 was conducted on 13th April on Lean Startups. The third session was on, discussing further lean startup models and how they work. The session was conducted by Anowar Sayef Anik who was the mentor for this particular session.
Read ahead to know further details on the mentorship session!
“Be The Star of Entrepreneurship” Mentorship Sessions: Lean Startup
Anowar Sayef Anik is the Co-founder of Turtle Venture and Karigor. Chief Strategy Officer at Turtle Venture. Also working as a Chief Technology Officer of XenTech and Technical manager at Upstaters. The workshop participants got to immerse themselves in learning about different areas of business.
The session kicked off with general niceties between the mentor and the participants. The session went on to discuss the definition and simplification of what Startups are and how to understand which ones are lean startups. He differentiated between startups and businesses and proceeded to explain the characteristics of each division.
He stated that a startup must – solve a problem for a large population, change customer behavior, change market infrastructure and/or supply chain, and have the ability to scale faster. A lean startup is a model where you must use the least amount of resources to build the foundations of your firm and progress from there.
He stated that there are certain approaches a founder must proceed to look out for, such as the collection of customer data and speeding up product development through an iterative process. He also explained why that is necessary- customer discovery and validation, solution and validation, business model validation, and pricing validation.
The session continued as he discussed further why we need to collect the data and analyze what that means, what MVP (Minimum Viable Product) is, how to build it, test it out, measure the collected data, and learn more about the customers.
Then he went in-depth into the types of currencies (which are customer data) and the methods of collecting them such as multi-currencies, focused leads, and random leads. He also explained further these terms and also MVT, optimization, and many tips regarding lean startups. After a brief interaction segment, the session came to an end.