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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.

Eric Ries

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Eric Ries
Age: 45
Born: 1979
Born: September 22
Author
Entrepreneur
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Work
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Multiply
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Takes
Likelihood
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Sucker
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More quotes by Eric Ries

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Using the Lean Startup approach, companies can create order not chaos by providing tools to test a vision continuously.
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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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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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If we stopped wasting people's time, what would they do with it?
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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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Vanity metrics are the numbers you want to publish on TechCrunch to make your competitors feel bad.
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Leadership requires creating conditions that enable employees to do the kinds of experimentation that entrepreneurship requires.
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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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Most companies are busy making their products worse, not better. Updating is almost always a disaster.
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Zero invites imagination, but small numbers invite questions about whether large numbers will ever materialize.
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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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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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A pivot is a change in strategy without a change in vision.
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New Customers come from the action of past customers
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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.
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The only person who can put you out of business, in the early days, is yourself.
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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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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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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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