Quote

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.

Eric Ries

Change background

T
T
T

Change font

TAGS & TOPICS

Eric Ries
Age: 45
Born: 1979
Born: September 22
Author
Entrepreneur
Writer
Time
Sure
Entrepreneurs
Goal
Entrepreneur
Inducing
Success
Stress
Eventual
Money
Lows
Calculate
Great
Becoming
Payoff
Work
Amount
Multiply
Way
Takes
Likelihood
Make
Rich
Sucker

More quotes by Eric Ries

Image
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.
Eric Ries
Image
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.
Eric Ries
Image
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.
Eric Ries
Image
A pivot is a change in strategy without a change in vision.
Eric Ries
Image
New Customers come from the action of past customers
Eric Ries
Image
Start-up success is not a consequence of good genes or being in the right place at the right time. Success can be engineered by following the right process, which means it can be learned, which means it can be taught.
Eric Ries
Image
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.
Eric Ries
Image
The only way to win is to learn faster than anyone else.
Eric Ries
Image
The only person who can put you out of business, in the early days, is yourself.
Eric Ries
Image
If you cannot fail, you cannot learn.
Eric Ries
Image
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.
Eric Ries
Image
Vanity metrics are the numbers you want to publish on TechCrunch to make your competitors feel bad.
Eric Ries
Image
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.
Eric Ries
Image
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
Image
Reading is good, action is better.
Eric Ries
Image
All innovation begins with vision. It’s what happens next that is critical.
Eric Ries
Image
Sustainable growth is characterized by one simple rule: New customers come from the actions of past customers.
Eric Ries
Image
Using the Lean Startup approach, companies can create order not chaos by providing tools to test a vision continuously.
Eric Ries
Image
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.
Eric Ries
Image
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.
Eric Ries