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Innovation is a bottoms-up, decentralized, and unpredictable thing, but that doesn’t mean it cannot be managed.
Eric Ries
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Eric Ries
Age: 45
Born: 1979
Born: September 22
Author
Entrepreneur
Writer
Bottom
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Cannot
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Decentralized
Thing
Bottoms
Unpredictable
Managed
Innovation
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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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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Zero invites imagination, but small numbers invite questions about whether large numbers will ever materialize.
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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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Don’t be in a rush to get big. Be in a rush to have a great product.
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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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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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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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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.
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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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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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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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Sustainable growth is characterized by one simple rule: New customers come from the actions of past customers.
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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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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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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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The only way to win is to learn faster than anyone else.
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Leadership requires creating conditions that enable employees to do the kinds of experimentation that entrepreneurship requires.
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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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