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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.

Eric Ries

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Eric Ries
Age: 45
Born: 1979
Born: September 22
Author
Entrepreneur
Writer
Important
Seemed
Work
Lessons
Time
Waste
Beyond
Learning
Start
Additional
Might
Required
Matter
Lesson

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If we stopped wasting people's time, what would they do with it?
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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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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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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 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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Most companies are busy making their products worse, not better. Updating is almost always a disaster.
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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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The way forward is to learn to see every startup in any industry as a grand experiment.
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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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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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If you don't know who your customer is, you don't know what quality is.
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Zero invites imagination, but small numbers invite questions about whether large numbers will ever materialize.
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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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All innovation begins with vision. It’s what happens next that is critical.
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A pivot is a change in strategy without a change in vision.
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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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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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New Customers come from the action of past customers
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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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Don’t be in a rush to get big. Be in a rush to have a great product.
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