Startups need to use scientific methodologies to run their business and build a viable business model. They should employ resources on building product samples and test them in the market – and keep improving them based on customer feedback. Validated learning and Scientific experimentation should be at the heart of your company.
- Startups are completely different from established business giants – running them like one won’t make sense.
- Entrepreneurs are everywhere – regardless of the size of your company or industry.
- Discover your sustainable business model through validated learning.
- Build-Measure-Learn – it is the key mantra to success. Do it as fast as possible.
- Don’t get carried away by short successes – vanity victories are misleading.
- Every startup should define its values and ideology and stick to it through thick and thin.
- Focus on one area of growth – do not employ your resources on multiple growth engines.
Passages from this book
- The only way to win is to learn faster than anyone else.
- We must learn what customers really want, not what they say they want or what we think they should want.
- Reading is good, action is better.
- As you consider building your own minimum viable product, let this simple rule suffice: remove any feature, process, or effort that does not contribute directly to the learning you seek.
- A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty.
“I make all our managers read The Lean Startup.” – Jeffery Immelt, CEO, General Electric
“At Asana, we’ve been lucky to benefit from Eric’s advice firsthand; this book will enable him to help many more entrepreneurs answer the tough questions about their business.” – Dustin Moskovitz, co-founder of Facebook and Asana
Author: Eric Ries | Language: English | Print: 336 pages