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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.
Eric Ries
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Eric Ries
Age: 45
Born: 1979
Born: September 22
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Entrepreneur
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More quotes by Eric Ries
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.
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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.
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A pivot is a change in strategy without a change in vision.
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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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Meritocracy is a good thing. Whenever possibly, people should be judged based on their work and results, not superficial qualities.
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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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If you don't know who your customer is, you don't know what quality is.
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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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If we stopped wasting people's time, what would they do with it?
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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.
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If you cannot fail, you cannot learn.
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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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Don’t be in a rush to get big. Be in a rush to have a great product.
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New Customers come from the action of past customers
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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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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.
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We must learn what customers really want, not what they say they want or what we think they should want.
Eric Ries
Zero invites imagination, but small numbers invite questions about whether large numbers will ever materialize.
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The only person who can put you out of business, in the early days, is yourself.
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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.
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