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A pivot is a change in strategy without a change in vision.

Eric Ries

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Eric Ries
Age: 45
Born: 1979
Born: September 22
Author
Entrepreneur
Writer
Pivot
Entrepreneur
Strategy
Vision
Change
Without

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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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If we stopped wasting people's time, what would they do with it?
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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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The only way to win is to learn faster than anyone else.
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Most companies are busy making their products worse, not better. Updating is almost always a disaster.
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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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Sustainable growth is characterized by one simple rule: New customers come from the actions of past customers.
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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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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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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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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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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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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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Leadership requires creating conditions that enable employees to do the kinds of experimentation that entrepreneurship requires.
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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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Zero invites imagination, but small numbers invite questions about whether large numbers will ever materialize.
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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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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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Science and vision are not opposites or even at odds. They need each other. I sometimes hear other startup folks say something along the lines of: 'If entrepreneurship was a science, then anyone could do it.' I'd like to point out that even science is a science, and still very few people can do it, let alone do it well.
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Vanity metrics are the numbers you want to publish on TechCrunch to make your competitors feel bad.
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