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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
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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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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I would say, as an entrepreneur everything you do - every action you take in product development, in marketing, every conversation you have, everything you do - is an experiment. If you can conceptualize your work not as building features, not as launching campaigns, but as running experiments, you can get radically more done with less effort.
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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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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 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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Don’t be in a rush to get big. Be in a rush to have a great product.
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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 we stopped wasting people's time, what would they do with it?
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A solid process lays the foundation for a healthy culture, one where ideas are evaluated by merit and not by job title.
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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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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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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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Reading is good, action is better.
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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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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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A pivot is a change in strategy without a change in vision.
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