- File Size: 2080 KB
- Print Length: 338 pages
- Publisher: Crown Business; 1 edition (September 13, 2011)
- Publication Date: September 13, 2011
- Sold by: Random House LLC
- Language: English
- ASIN: B004J4XGN6
- Text-to-Speech: Enabled
- Word Wise: Enabled
- Lending: Not Enabled
- Amazon Best Sellers Rank: #4,419 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses Kindle Edition
|Length: 338 pages||Word Wise: Enabled||Enhanced Typesetting: Enabled|
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Second, the focus of the book is on "what" a lean start-up is and doesn't provide actionable information. Diarrhea of the word processor resulted in a 365 page definition of a lean start-up, where it could have been boiled down to less than 100 pages (minus 1-star for waste...Distill it down to an A3 using Lean Thinking). So let me save you some time.
1. An entrepreneur is a person who creates a business around a product or service under conditions of "extreme uncertainty", and should ascend the vision-strategy-product pyramid. (Google: Start with Why TEDx - Ries redefines that concept)
2. A start-up is a phase of the entrepreneur's organization, tasked with the goal of reducing the condition of "extreme uncertainty", and finding a sustainable business model (Google: Lean Business Model Canvas).
3. Use customer discovery (class) and validated learning (method) to find a sustainable business model around your product or service idea. The validated learning method of Build-Measure-Learn is synonymous with Plan-Do (Build), Check (Measure), and Act (Learn) cycle, which as most people know is derived from the scientific method.
a. Build a Minimum Viable Product (MVP)
b. Measure using Actionable Metrics instead of Vanity Metrics.
c. Learn from your MVP and Actionable metrics and Pivot to improve problem/solution and product/market fit or Persevere.
4. Finally, use lean principles (i.e. small batch sizes, 5 whys root cause analysis, chief engineer, blah, blah, blah) to stream-line your operation once you've found a viable business model and are ready to leave the start-up phase and enter the growth phase. (Minus 1-star: As a hardware guy and having extensive experience in lean it's blatantly obvious Ries is just starting his lean journey and his last section (Accelerate) is superficial, survey, regurgitation of some of the lean tools and ideas).
Reference More Actionable Books:
Running Lean - Ash Maurya
Art of the Start (Ch.1) - Guy Kawasaki
Reference Free Material:
Steve Blank's Website & Blog
Simon Sinek - Start with Why
I initially feared that this book would read like a business textbook but I was quickly proven wrong. The book is very well written and easy to read. Eric Ries explains everything in plain english so that it is clear and intuitive. Ries does a good job of using real world examples and anecdotes to explain his concepts. Ries has experience consulting for companies like Intuit and IGN and includes lots of valuable insider information that can't be found in most business textbooks. He also includes alot of real start up success stories as well as many failures and discusses what must be learned from each.
Before reading this book, I was discouraged from going forth with my Ideas because I feared my lack of business experience would hold me back. Now I feel like I have the tools to execute my ideas. If I had not read this book, I could easily see myself making some of the common mistakes that lead to startup failures. Instead of creating a minimum viable product to quickly get feedback like Ries recommends, I would spend months or even years developing what I considered to be the perfect prototype, only to find out nobody wanted to use it. All his ideas make perfect sense. Don't make assumptions about what people want, rather find out what your customers want before hand. Everything is about feedback, collecting it then applying it to your product. Don't waste anytime developing something unless you know it creates value.
Anyone who is considering creating a startup or new product should read this book. The best thing about this book is that you don't need business experience to understand the core concepts.The principles he talks about can be applied to all types of types of business but are particularly helpful for software and tech products.He answers alot of the questions I had and even question I did not think of but should have been asking.It is only a matter of time before the lean startup method is universally adopted.
Eric Ries provides a map on starting a business with concrete steps and strategies for executing a plan. He gives guidance on how and when to persevere with the initial plan or to "pivot" into another approach based on the results, or lack of results, arising from an entrepreneur's initial plan. Entrepreneurs need to learn what their market wants and to provide this and not some product or service that the entrepreneur thinks that the market should want or need. To do this requires building and testing a minimum viable product to determine the markets reaction. He advocates attention to innovation accounting to measure progress in the market's acceptance of your product or service and to avoid vanity metrics. Of all the concepts in the book the idea of what it will take to build a minimum viable product is the one necessity for which I didn't see any clear-cut guidance. I do not say this as a criticism of the book because the entrepreneur must use vision and judgment to decide what a minimum viable product or service must be. It is this product or service that starts the process of learning what the market wants that is critical to success. Simply building a product or providing a service because the entrepreneur thinks that the market wants it leads to failure. Ries gives an approach based on testing and learning what the market wants while conserving money and resources that gives an entrepreneur a better chance at success.
This is a book written by someone who has experienced success and failure. He understands what it takes to succeed. I strongly recommend the book.
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