Finished 08/11/2022

The Lean Startup

Eric Ries

⭐️⭐️

• IT
• Work

Recommended by the VSCode PM in a podcast, a book about product and how to understand it. Also recommended by Arjan Codes. Personally I did not find it very interesting, but I feel I do not really have an entrepreneurial mindset, so I was not particularly impressed. Very repetitive in its core idea, which is essentially

Start first, then quickly evolve by gathering feedback from users Other than that, there is not much to take away.

Notes

1. There is a process to entrepreneurship that can be learned.
2. 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.
3. Customers do not tell us what they want. They reveal the truth through their action or inaction.
4. Test and validate your value and growth hypothesis.
5. Use MVPs to cycle through the Build-Measure-Learn feedback loop as fast as possible.

• The goal of a startup is to deploy as soon as possible, then grow based on feedback. Do not get lost in a complex plan. Produce and learn.
• Customers do not tell us what they want; you have to infer it from their actions and inactions.
• If you cannot fail, you cannot learn.
• The customer you need is the early adopter, someone who tries your product, is willing to spend time on it, and provides feedback. They are usually experts.
• You cannot predict what will work in your product. Build an MVP quickly and test it. The MVP must be minimal, without things that do not help convey your idea, and you must test it with the right customer.
• Be ready to pivot, to change the company’s focus and mission if it is not working. Various startup stories advanced this way.
• Use small batches, even if they seem less efficient. Example: do one letter at a time instead of stuffing, then writing, then closing, etc.