Eric Ries is the creator of the Lean Startup methodology and the author of the popular entrepreneurship blog Startup Lessons Learned. He previously co-founded and served as Chief Technology Officer of IMVU. In 2007, BusinessWeek named Ries one of the Best Young Entrepreneurs of Tech and in 2009 he was honoured with a TechFellow award in the category of Engineering Leadership.
He serves on the advisory board of a number of technology startups, and has worked as a consultant to a number of startups, companies, and venture capital firms. In 2010, he became an Entrepreneur-in-Residence at Harvard Business School.
Here are the 10 success lessons from Eric Ries – “The Lean Startup” for entrepreneurs,
1. The least important thing in every startup is … your big idea
Many people out there think that business success depends on one original idea. For starters, most successful businesses aren’t that original, but they are good at what they do, they understand their market and continuously adapt to serve their target client base.
More importantly, it’s not the idea but the execution that reigns supreme. As Eric Ries puts it, “Only 5% of entrepreneurship is the big idea, the business model, the whiteboard strategising and the splitting up of the spoils. The other 95% is the gritty work that is measured by innovation accounting: product prioritisation decisions, deciding which customers to target or listen to, and having the courage to subject a grand vision to constant testing and feedback.”
2. Get out and interact with customers
Customer feedback is vital for a startup no matter what size it may be, but it’s especially crucial in the early stages of growth. Get out and talk to your customers. Find out what they can and can’t live without. Prod and ask the tough questions. Good feedback is priceless and goes far beyond what analytics can provide.
3. Failing quickly is a good thing
Ultimately, The Lean Startup model is all about starting small, learning big, testing your proposition in the market and adapting to the feedback you’re receiving. You can spend 6 months building up your business plan and doing market research, stuck in “analysis paralysis”, invest money, hire a team, then launch your product and spend 6 more months, convincing yourself “it takes time”, whereas what you should be doing is following your “baby” with a magnifying glass, set tests and learn from the results.
And if your prototype project fails? Bravo! That’s a result, isn’t it? Now, what went wrong? And why? In fact, Eric Ries recommends asking “Why” five times to get to the bottom of the problem and find a way to fix it. If you start small and launch quickly, if your first prototype fails, you can rapidly tweak your proposition and march http://thebiginfotoday..nl/2016/09/10-success-lessons-from-eric-ries-lean.html?m=1

Nice write up. How do I get the book?

Skie:
Nice write up. How do I get the book?

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Hmm, I finally found the book, the price is on the very high side!

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