It encourages you to launch as early and cheaply as possible so you don’t waste time and money.
Here’s what you’ll learn in this Lean Startup summary: Warning: This Lean Startup summary is especially long because I’ve added modern business examples after the publishing of this book in 2011.
They often take a shoot-from-the-hip, hail-Mary, undisciplined approach to company development.
This leads unfortunately to failure, spending years of your life building something no one gives a crap about.
by Eric Ries is considered a bible in the tech entrepreneurship community. It’s a methodology for creating businesses that focuses you on finding out what customers want as quickly as possible.
Out of dozens of business books I’ve read over years, this has had the single largest impact on the way I build my business. It uses concepts of scientific experimentation to prove that you’re making progress.
Eric defines a startup as “a human institution designed to create new products and services under conditions of extreme uncertainty.” This includes a huge range of people, from employees in a large company or the government to the stereotypical college dropouts in a garage.2) Entrepreneurship is management.I also give my own hard-earned advice on executing Lean Startup methodology.But if you want to found your own startup, or if you want to increase the chances of success of a work project, or you just want to learn how to make faster progress in life, reading this Lean Startup summary is The media portrays startup success incorrectly as fatalistic – if you have the right stuff (a good idea, determination, timing, and luck), you will inevitably succeed.Thus the real metric you should care about is the amount you learn – not the number of hours you work, the lines of code you’ve written, or the number of times you’ve banged your head against the wall. When you get on the road, you make constant adjustments to the steering wheel, based on where you see yourself on the road.Because startups face so much uncertainty, you have to make continuous adjustments to your startup plan, based on the information you get back. Veer a little right, and you turn to the left before you go offroad. You collect information about your customer, just like seeing where you are on the road.Another inspiration was Japan’s lean manufacturing systems, made famous by Toyota.Eric Ries applied these concepts to IMVU, which became a roaring success, with millions of users and million in annual revenues in 2011.As an engineer, he initially thought they failed due to technical problems, but this was never the right answer.In reality, they just spent a lot of time building things nobody wanted.Startups really DO need management, but a new kind of management catering to high-risk innovation.By using this management method, you will be confident you’re moving in the right direction and learning more about your company. The goal of a startup is to learn what their customers want and will pay for, as quickly as possible.