So, you’re done with your studies and looking forward to developing your own business. Or, you might be a student creating a startup idea for your project. Whatever the scenario it is that you’re in, you’re going to need a working methodology in the first place.
A working methodology or a framework is simply a systematic approach to reaching your goals. For an idea, there is always going to be a set of challenges. The goal is always to overcome the challenges and complete the project within the shortest time possible.
Now, if you randomly keep doing different stages of the project, there will be a time when you won’t be able to track your progress anymore. And eventually, it’s going to turn into a nightmare for you. So much so that you may discard the entire idea.
But if you approached the very idea with a working framework in the first place, you could’ve shortened the learning curve as well as increased the efficiency of your team.
As of now, there are plenty of frameworks, but not all of them are suitable for student startups. In this post, let’s try to summarize the 5 best working frameworks and learn how to choose the best framework.
1. Kanban
Just like SCRUM, Kanban is an Agile framework, and it’s mostly used for the visualization of the workflow. It defines, controls, and upgrades the services of your project when needed. The primary objective is to get rid of all the bottlenecks in the system to increase efficiency.
This working framework starts with the visualization of data on the workflow, followed by limiting the “work in progress”. Because you need the work to be done and not in progress. Just like some services can help students with law assignments online, Kanban can offer online help to students for streamlining their semester projects.
Once you’re utilizing your time more efficiently, move to explicit policies. This is basically planning on how to deploy and structure the end product.
Pros
- Data visualization tools are relatively easy to use and easy to understand
- The changes made in the development lifecycle are easy to adapt for all team members
- As the number of “work in progress” is always limited, team members can collaborate better
- Kanban reduces the overall project management costs and saves time in the long run
Cons
- Kanban cannot be used autonomously, meaning you need to connect another Agile or any other working methodology
- The phases of the development are not controlled by time frames which can lead to severe inefficiency
2. SCRUM
Derived from Rugby’s Scrummage, SCRUM is one of the simplest yet one of the most effective working frameworks. If you’re wondering which framework is the best, SCRUM should be your first choice.
In a SCRUM workflow, there’s a product owner who outlines the requirements, the SCRUM team that takes care of the groundwork, and the SCRUM Master whose job is to keep the pipeline clear.
SCRUM breaks the entire project down into “Sprints”, ideally a week’s worth of workload for all individuals involved. At the end of each Sprint, there should be a complete portion of the project, ready to be showcased or tested by the product owner. It takes intensive debugging down the line and keeps all parties alert at all times.
Pros
- Simple to implement and easy to understand
- Consistent feedback keeps the project on track
- Better utilization of time and money
- All individuals can showcase their creativity during sprints
Cons
- Doesn’t work for large teams
- Sometimes may get frustrating with consistent meetings
3. Waterfall
The waterfall methodology is probably the simplest of the bunch as well as the most straightforward one. It works just as it sounds. The development process of the student startup takes the shape of a waterfall. It’s a linear process.
First, the planning phase is taken care of. No work is done until the planning ends. After planning comes to the building phase. All the time and resources are invested in creating the prototype of the product or service.
After the prototype is ready, the development cycle moves to review and deployment. Now, if there’s a problem with the review phase, it might be too late to submit your idea to get the grades because you’ve been looking for the error.
Pros
- Great for disciplined startups
- All requirements and potential outcomes are clear to all parties
- Testing is easy and more effective as the whole product is ready
Cons
- Long development cycle
- Faulty planning will lead to faulty product development
- Requirements can sometimes be difficult to understand
4. The Lean Startup Framework
This working methodology is based on 5 basic ideas.
The first block of the process is finding an idea and prioritizing the market opportunities for the startup within the campus. Then, it’s time to design the business models. Right after that, all of the learnings must be validated. Then, you can create the minimum viable products for the showcase. Lastly, you can take further action based on the outcome of the previous step.
This could potentially be the best framework for students if implemented correctly. This framework can rapidly develop the products and test the viability of a business model. It uses Key Performance Indicators (KPI) to determine the feasibility of the outcomes.
Pros
- You’re closer to the end-user
- Innovation and deployment are quicker
- Sales and marketing costs are minimal
- Better targeting of the audience
Cons
- Product is often incomplete before the final phase
- Team members may get discouraged in the long run
- The short life cycle of the framework may not always yield good results
5. Six Sigma
Last but not least, our last framework for student startups is Six Sigma. It’s a completely data-driven approach, making it one of the best frameworks for students. The goal of using this method is to reduce the amount of resource wastage, increase customer efficiency, and improve the process of overall development.
The framework was primarily used in the manufacturing industry. It managed to reduce the number of defective products to 3.4 for every 1 million units! Over the last few years, Six Sigma has become a sustainable methodology for mainstream businesses as well.
Pros
- It eliminates waste on all fronts (time, money, energy)
- It reduces the chances of errors in the development cycle
- It can increase customer as well as employee satisfaction
- It can help redesign a previously failed startup with new parameters
Cons
- Increased overhead in the long run
- It might lead to bureaucracy in the long run
Wrapping Up
The world of student startups is now flooded with various working frameworks. It’s often a challenge to find the right combination for your team based on the nature of your idea. From what you’ve learned on this page, we hope that you now know how to choose the best frameworks.
