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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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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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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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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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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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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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Vanity metrics are the numbers you want to publish on TechCrunch to make your competitors feel bad.
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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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The way forward is to learn to see every startup in any industry as a grand experiment.
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All innovation begins with vision. It’s what happens next that is critical.
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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 you don't know who your customer is, you don't know what quality is.
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If you cannot fail, you cannot learn.
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Reading is good, action is better.
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