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It doesn't matter if you call it a boom or a bubble. The startup business moves in cycles, and what goes up will eventually come down.

Eric Ries

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Eric Ries
Age: 45
Born: 1979
Born: September 22
Author
Entrepreneur
Writer
Moving
Boom
Business
Bubble
Doesn
Bubbles
Come
Cycles
Matter
Moves
Eventually
Goes
Call

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In the old economy, it was all about having the answers. But in today’s dynamic, lean economy, it’s more about asking the right questions. A More Beautiful Question is about figuring out how to ask, and answer, the questions that can lead to new opportunities and growth.
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If your goal is to make money, becoming an entrepreneur is a sucker's bet. Sure, some entrepreneurs make a lot of money, but if you calculate the amount of stress-inducing work and time it takes and multiply that by the low likelihood of success and eventual payoff, it is not a great way to get rich.
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Reading is good, action is better.
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Every startup has a chance to change the world, by bringing not just a new product, but an entirely new institution into existence.
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There is no greater country on Earth for entrepreneurship than America. In every category, from the high-tech world of Silicon Valley, where I live, to University R&D labs, to countless Main Street small business owners, Americans are taking risks, embracing new ideas and - most importantly - creating jobs.
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New Customers come from the action of past customers
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Entrepreneurs always pitch their idea as 'the X of Y,' so this is going to be 'the Microsoft of food.' And yet disruptive innovations usually don't have that character. Most of the time, if something seems like a good idea, it probably isn't.
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Sustainable growth is characterized by one simple rule: New customers come from the actions of past customers.
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If the plan is to see what happens, a team is guaranteed to succeed - at seeing what happens - but won't necessarily gain validated learning - If you cannot fail, you cannot learn.
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Most companies are busy making their products worse, not better. Updating is almost always a disaster.
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This is one of the most important lessons of the scientific method: if you cannot fail, you cannot learn.
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Learning to see waste and systematically eliminate it has allowed lean companies such as Toyota to dominate entire industries. Lean thinking defines value as 'providing benefit to the customer' anything else is waste.
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Because startups often accidentally build something nobody wants, it doesn’t matter much if they do it on time and on budget. The goal of a startup is to figure out the right thing to build - the thing customers want and will pay for - as quickly as possible.
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We must learn what customers really want, not what they say they want or what we think they should want.
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Vanity metrics are the numbers you want to publish on TechCrunch to make your competitors feel bad.
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A pivot is a change in strategy without a change in vision.
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The only way to win is to learn faster than anyone else.
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What differentiates the success stories from the failures is that the successful entrepreneurs had the foresight, the ability, and the tools to discover which parts of their plans were working brilliantly and which were misguided, and adapt their strategies accordingly.
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If we stopped wasting people's time, what would they do with it?
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A solid process lays the foundation for a healthy culture, one where ideas are evaluated by merit and not by job title.
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