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Zero invites imagination, but small numbers invite questions about whether large numbers will ever materialize.

Eric Ries

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Eric Ries
Age: 45
Born: 1979
Born: September 22
Author
Entrepreneur
Writer
Zero
Questions
Large
Numbers
Imagination
Small
Materialize
Whether
Invite
Ever
Invites

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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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There is no greater country on Earth for entrepreneurship than America. In every category, from the high-tech world of Silicon Valley, where I live, to University R&D labs, to countless Main Street small business owners, Americans are taking risks, embracing new ideas and - most importantly - creating jobs.
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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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If we stopped wasting people's time, what would they do with it?
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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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The only person who can put you out of business, in the early days, is yourself.
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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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All innovation begins with vision. It’s what happens next that is critical.
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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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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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New Customers come from the action of past customers
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If you cannot fail, you cannot learn.
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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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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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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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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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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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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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