Eric Ries Quotes
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When it comes to meritocracy and diversity, the symbolic is real. And that means that simple actions that reduce bias, such as blind resume or application screening, are a double win: they reduce implicit bias and they help communicate our commitment to meritocracy.
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It's a really paradoxical thing. We want to think big, but start small. And then scale fast. People think about trying to build the next Facebook as trying to start where Facebook is today, as a major global presence.
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As you consider building your own minimum viable product, let this simple rule suffice: remove any feature, process, or effort that does not contribute directly to the learning you seek.
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The only person who can put you out of business, in the early days, is yourself.
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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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New Customers come from the action of past customers.
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The Lean Startup has evolved into a movement that is having a significant impact on how companies are built, funded and scaled.
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If we stopped wasting people's time, what would they do with it?
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The problem with entrepreneurship is we are often working really hard producing high quality products that no-one wants. The creation of stuff is not valued.
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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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Customers don't know what they want. There's plenty of good psychology research that shows that people are not able to accurately predict how they would behave in the future. So asking them, 'Would you buy my product if it had these three features?' or 'How would you react if we changed our product this way?' is a waste of time. They don't know.
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Most entrepreneurs don't need as many customers as they think. A lot of people think 10 is too few for a sample. But if all 10 refused a product, why is that not enough? If you want 100, 1,000 or a million customers, you first have to get 10.
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Building the right product requires systematically and relentlessly testing that vision to discover which elements of it are brilliant, and which are crazy.
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If you don't know who your customer is, you don't know what quality is.
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I would say, as an entrepreneur everything you do - every action you take in product development, in marketing, every conversation you have, everything you do - is an experiment. If you can conceptualize your work not as building features, not as launching campaigns, but as running experiments, you can get radically more done with less effort.
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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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The United States is locked in a new arms race for that most precious resource - the future entrepreneurs upon whom economic growth depends. Substantial research shows that immigrants play a key role in American job creation.
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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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I believe for the first time in history, entrepreneurship is now a viable career.
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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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I can't say I'm not grateful to have journalists writing about me as a genius. But I know it's not true. I'm not confused. I understand that success comes through a lot of failure and a lot of very embarrassing failure. People want to create the next Facebook, but they are too afraid to create the next Facemash.
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All innovation begins with vision. It’s what happens next that is critical.
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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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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.