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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.
This book is currently unavailable
40 printed pages

Impressions

    Ostin Gerardoshared an impressionlast year

    Lo necesito en Español por favor.

    Dmitriy Sshared an impressionlast year

    Very simple idea repeated 100 times

    Lars Orbesenshared an impression4 years ago
    💡Learnt A Lot

    Inspirerende men ukonkret

Quotes

    Simon Dunlophas quoted7 years ago
    Those teams should be putting a number of minimally viable products into the marketplace and figuring out how to make them work. Even established companies should be using the Lean Startup methodology on an ongoing basis
    Sofija Krstevhas quoted2 years ago
    Lean Startup method is not opposed to building high-quality products, but only in the service of winning over customers. We must be willing to set aside our traditional professional standards to start the process of validated learning as soon as possible.
    Анна Подобнаяhas quoted5 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.

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