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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

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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 attributes for entrepreneurs cut both ways. You need the ability to ignore inconvenient facts and see the world as it should be and not as it is. This inspires people to take huge leaps of faith. But this blindness to facts can be a liability, too. The characteristics that help entrepreneurs succeed can also lead to their failure.
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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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The only person who can put you out of business, in the early days, is yourself.
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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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Reading is good, action is better.
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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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Most companies are busy making their products worse, not better. Updating is almost always a disaster.
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All innovation begins with vision. It’s what happens next that is critical.
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New Customers come from the action of past customers
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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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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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The only way to win is to learn faster than anyone else.
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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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Meritocracy is a good thing. Whenever possibly, people should be judged based on their work and results, not superficial qualities.
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If you don't know who your customer is, you don't know what quality is.
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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.
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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 way forward is to learn to see every startup in any industry as a grand experiment.
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