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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
Goes
Call
Moving
Boom
Business
Bubble
Doesn
Bubbles
Come
Cycles
Matter
Moves
Eventually

More quotes by Eric Ries

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Science and vision are not opposites or even at odds. They need each other. I sometimes hear other startup folks say something along the lines of: 'If entrepreneurship was a science, then anyone could do it.' I'd like to point out that even science is a science, and still very few people can do it, let alone do it well.
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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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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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Innovation is a bottoms-up, decentralized, and unpredictable thing, but that doesn’t mean it cannot be managed.
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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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When Steve Jobs and Steve Wozniak created Apple computer in a garage in Palo Alto, it heralded the beginning of the PC revolution that ultimately dealt a death-blow to dozens of older companies.
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There is much that public policy can do to support American entrepreneurs. Health insurance reform will make it easier for entrepreneurs to take a chance on a new business without putting their family's health at risk. Tort reform will make it easier to take prudent risks on new products in a number of sectors.
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Here in Silicon Valley, I have taken part in hundreds of conversations trying to convince people to dive in and become entrepreneurs. All too often, innovators with good, safe, jobs are unwilling to put their family's access to health care at risk by walking away from company-backed medical insurance.
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The lesson of the MVP is that any additional work beyond what was required to start learning is waste, no matter how important it might have seemed at the time.
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The big question of our time is not Can it be built? but Should it be built? This places us in an unusual historical moment: our future prosperity depends on the quality of our collective imaginations.
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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.
Eric Ries
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I would say, as an entrepreneur everything you do - every action you take in product development, in marketing, every conversation you have, everything you do - is an experiment. If you can conceptualize your work not as building features, not as launching campaigns, but as running experiments, you can get radically more done with less effort.
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A head start is rarely large enough to matter, and time spent in stealth mode-away from customers-is unlikely to provide a head start. The only way to win is to learn faster than anyone else.
Eric Ries
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Vanity metrics are the numbers you want to publish on TechCrunch to make your competitors feel bad.
Eric Ries
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Products a start-up builds are really experiments…Learning about how to build a sustainable business is the outcome of those experiments [which follow] a three-step process: Build, measure, learn.” “[A startup is] … an organization dedicated to creating something new under conditions of extreme uncertainty.
Eric Ries
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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.
Eric Ries
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All innovation begins with vision. It’s what happens next that is critical.
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Most companies are busy making their products worse, not better. Updating is almost always a disaster.
Eric Ries
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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.
Eric Ries
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As an entrepreneur, I knew that if my company failed, I could always try again. So I often felt that the only real risk of true financial ruin came from the possibility of a serious illness that either exceeded my insurance plans lifetime limits, or was not covered due to rescission.
Eric Ries