On average, nine out of 10 business startups fail. According to Russ McGuire, head of Entrepreneur in Residence at Oklahoma Christian, the LEAN startup philosophy aims to change the business startup failure rate.
McGuire will be speaking on LEAN startup philosophy at the upcoming graduate seminar.
“I did my first startup back in 1995,” McGuire said. “In the past 10 years, the way that startups are done has fundamentally changed.”
McGuire said startups were previously organized the same as big businesses and as a result, nine out of 10 startups resulted in failure.
“Basically the idea is, instead of assuming you know everything, assume you don’t,” McGuire said. “You are still going to fail nine times out of 10, but now it’s, ‘I learned something and now my business is going to be stronger.’”
McGuire said the seminar is to introduce LEAN startup philosophy. McGuire also said he hopes to inspire all who attend to get to work after his lesson.
“Most of our classes at Oklahoma Christian are really more aimed at how to be successful in a corporation,” McGuire said. “So, for students that have an interest at any point in their life in starting their own business, this would be a really good opportunity to see whether this is something they could do.”
McGuire said his goal for the graduate seminar is to introduce a new idea to both Oklahoma Christian graduates and current students.
Oklahoma Christian’s Graduate Business Entrepreneur Seminar will be held November 8th.