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Using the Lean Startup approach, companies can create order not chaos by providing tools to test a vision continuously.
Eric Ries
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Eric Ries
Age: 45
Born: 1979
Born: September 22
Author
Entrepreneur
Writer
Approach
Lean
Vision
Providing
Create
Test
Company
Companies
Order
Chaos
Tests
Using
Tools
Continuously
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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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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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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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A pivot is a change in strategy without a change in vision.
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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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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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Meritocracy is a good thing. Whenever possibly, people should be judged based on their work and results, not superficial qualities.
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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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Most companies are busy making their products worse, not better. Updating is almost always a disaster.
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If you cannot fail, you cannot learn.
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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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Reading is good, action is better.
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The only person who can put you out of business, in the early days, is yourself.
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All innovation begins with vision. It’s what happens next that is critical.
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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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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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Don’t be in a rush to get big. Be in a rush to have a great product.
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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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This is one of the most important lessons of the scientific method: if you cannot fail, you cannot learn.
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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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