- Audible Audio Edition
- Listening Length: 8 hours and 43 minutes
- Program Type: Audiobook
- Version: Unabridged
- Publisher: Random House Audio
- Audible.com Release Date: September 13, 2011
- Whispersync for Voice: Ready
- Language: English
- ASIN: B005MM7HY8
- Amazon Best Sellers Rank:
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The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses Audiobook – Unabridged
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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 think a lot of the book makes sense and they are pretty easy to follow. You don't need to have much experience in business or technology to understand the book, and the essence makes a lot of sense.
A few things that I think is not being stressed enough in this book:
- Intuition and guts also plays a lot of role in the success of a company. If the book might have taught you not to pursue markets without enough volume, then we wouldn't have companies like Apple who are making computers way before the mass market needs one. One of the points that is being stressed heavily in this book is to test hypothesis and the market; but no one knows in 1974 that they need computers. Sometimes I think you just need to follow your intuition and believe in it. If you just follow what the market wants we will all still be riding faster horse and use typewriters.
- Not every company can follow the Groupon model (or the other examples in the book), even after reading this book, you need to be very creative in how you test your hypotheses and market. The book does not give you any up to date, practical methods to do that. I understand that this is probably out of the scope for this book, and since the tech market is changing all the time, it's probably not a good idea to include anything like this.
If you're considering becoming an entrepreneur or have any position of management within a company. This is the book you need. This will teach you how to skyrocket your businesses growth quickly and very efficiently.
This book provides an incredible rate of return and is an absolutely essential part of an entrepreneur/manager's library.