Summary: The Lean Startup  Eric Ries, Must Read Summaries
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Summary: The Lean Startup Eric Ries

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This ebook offers a summary of the book “The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses” by Eric Ries.

Why do so many startups fail? The business myth says: A lone entrepreneur — beavering away in a lab or a garage somewhere — through hard work, grit and sheer perseverance develops a great product which then becomes a blockbuster hit. That sounds appealing but the reality is most startups tend to burn through their resources and then disappear because they never get around to seeing what their potential customers think of what they're developing. They worry about the product first and assume customer demand will be there automatically.

To succeed with a startup, you've got to manage it differently. Instead of developing a business plan, find ways to accelerate your learning and validate customers demand. The best way to do this is to build a prototype (with minimal features) and sell it to some early adopters. Then change the product repeatedly — daily if necessary — and keep supplying your customers with the new and improved versions. Listen to their feedback and use those ideas to make a better version and then get more feedback on that. Keep iterating until you get a fully featured product which your customers love.

In other words, go through the BuildMeasureLearn loop as often as you can. If you make validated learning the real aim of your startup, you stand a better chance of success. Focus on what customers want, utilize an extremely fast cycle time and take a scientific approach to making decisions. That's the essence of the Lean Startup approach.

ERIC RIES is an entrepreneur and blog author. He is a cofounder and chief technology officer of IMVU, a virtual community developer. He is also a frequent keynote speaker and is currently entrepreneurinresidence at Harvard Business School. The Lean Startup methodology has been written about in the New York Times, the Wall Street Journal, the Harvard Business Review and the Huffington Post.
40 printed pages

Impressions

Ostin Gerardo
Ostin Gerardoshared an impressionlast month

Lo necesito en Español por favor.

Dmitriy S
Dmitriy Sshared an impression3 months ago

Very simple idea repeated 100 times

Lars Orbesen
Lars Orbesenshared an impression2 years ago
💡Learnt A Lot

Inspirerende men ukonkret

Quotes

Анна Подобная
Анна Подобнаяhas quoted4 years ago
real life, being an entrepreneur is more of an exercise in management skills than anything else. Any startup is a portfolio of activities, all happening simultaneously. At any time:
New customers are being acquired.
Existing customers are being supported.
Fidan Tofidi
Fidan Tofidihas quoted18 days ago
oom-out pivot – you can take what was previously thought to be an entire product and make it just one feature of a much larger product.

Customer segment pivot – you can start building a solution for a different customer than was originally envisaged.

Customer need pivot – you can discover other problems to solve for your existing customers which are more important than the problem you first targeted.

Platform pivot – you can change what you’re developing and selling from being an application to where it is an entire platform others can use or vice versa.

Business architecture pivot – you can change from being low-volume/high margin to mass market or vice versa.

Value capture pivot – you can change the way you attempt to monetize your products or the revenue model you use.

Engine of growth pivot – you can change from using a paid growth model to a viral growth model or to a sticky growth model.

Channel pivot – you can deliver your product or solution to customers through a different sales or distribution channel.

Technology pivot – you can seek to achieve the same solution by using some completely different technology which offers superior price and/or performance.
Sofija Krneta
Sofija Krnetahas quoted4 months ago
aim of any startup should be first and foremost to use scientific experimentation to discover how to build a sustainable business. Anything else is a bonus.

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