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The only person who can put you out of business, in the early days, is yourself.

Eric Ries

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Eric Ries
Age: 45
Born: 1979
Born: September 22
Author
Entrepreneur
Writer
Person
Early
Days
Business
Persons

More quotes by Eric Ries

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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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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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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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Reading is good, action is better.
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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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Vanity metrics are the numbers you want to publish on TechCrunch to make your competitors feel bad.
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If you cannot fail, you cannot learn.
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The only way to win is to learn faster than anyone else.
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A pivot is a change in strategy without a change in vision.
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All innovation begins with vision. It’s what happens next that is critical.
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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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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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This is one of the most important lessons of the scientific method: if you cannot fail, you cannot learn.
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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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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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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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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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New Customers come from the action of past customers
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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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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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