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Why Big Corporations Need Lean Startup Techniques: A Path to Innovation and Growth

In the rapidly evolving business landscape, the mantra “adapt or die” holds more weight than ever. Blackberry and Yahoo serve as a stark reminder: failure to innovate can lead to obsolescence. Regardless of size. In the meantime, it has become increasingly common to witness a startup, now and then, completely revolutionise an industry. Spotify. Netflix. Tesla. Historically, large companies enjoyed a lifespan of around 61 years, a figure now drastically reduced to less than 18 years. This trend signals an alarming rate of corporate mortality, with entities like Enron and Lehman Brothers serving as cautionary tales of stagnation and collapse​. More than 50% of established corporations are now expected to leverage lean startup techniques at the business level to increase the pace and success of business transformation. Which is no surprise to me. At Altar.io, we’ve witnessed a surge in interest from major corporations eager to imbue their operations with startup agility and efficiency. This pivot towards Lean Startup methodologies, famously articulated by Eric Ries, emphasises validated learning, iterative development, and customer-centric strategies. While these principles are synonymous with startups, their relevance and potential benefits for established corporations are undeniable. In an era marked by digital disruption and fiercely heightened competition, this strategic […]