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Sustainable growth is characterized by one simple rule: New customers come from the actions of past customers.

Eric Ries

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Eric Ries
Age: 45
Born: 1979
Born: September 22
Author
Entrepreneur
Writer
Action
Past
Characterized
Come
Sustainable
Customers
Actions
Rule
Growth
Simple

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The only person who can put you out of business, in the early days, is yourself.
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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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New Customers come from the action of past customers
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All innovation begins with vision. It’s what happens next that is critical.
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If you don't know who your customer is, you don't know what quality is.
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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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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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The only way to win is to learn faster than anyone else.
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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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We must learn what customers really want, not what they say they want or what we think they should want.
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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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Using the Lean Startup approach, companies can create order not chaos by providing tools to test a vision continuously.
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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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Innovation is a bottoms-up, decentralized, and unpredictable thing, but that doesn’t mean it cannot be managed.
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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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Reading is good, action is better.
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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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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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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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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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