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If we stopped wasting people's time, what would they do with it?

Eric Ries

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Eric Ries
Age: 45
Born: 1979
Born: September 22
Author
Entrepreneur
Writer
People
Wasting
Stopped
Trust
Would
Time

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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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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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Most companies are busy making their products worse, not better. Updating is almost always a disaster.
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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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Using the Lean Startup approach, companies can create order not chaos by providing tools to test a vision continuously.
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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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A pivot is a change in strategy without a change in vision.
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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 only person who can put you out of business, in the early days, is yourself.
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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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Vanity metrics are the numbers you want to publish on TechCrunch to make your competitors feel bad.
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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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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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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 mistake isn't releasing something bad. The mistake is to launch it and get PR people involved. You don't want people to start amping up expectations for an early version of your product. The best entrepreneurship happens in low-stakes environments where no one is paying attention, like Mark Zuckerberg's dorm room at Harvard.
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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 you cannot fail, you cannot learn.
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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.
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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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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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