There is nothing worse than building an extremely awesome product that NOBODY WANTS. Through The Lean Startup, Eric Ries lays out the lean framework and a series of related stories on how to make sure you're building products people actually want, using validated learning instead of guesswork.
Favorite Quote
"Startup success is not a consequence of good genes or being in the right place at the right time. Startup success can be engineered by following the right process, which means it can be learned, which means it can be taught." ~ Eric Ries
Key Takeaways
- A startup is a human institution designed to create something new under conditions of extreme uncertainty. That definition applies just as much inside a Fortune 500 company as it does in a garage.
- Validated learning, not features shipped, is the true unit of progress. Any effort that isn't necessary for learning what customers want is waste.
- A minimum viable product isn't the smallest thing you can build, it's the fastest way through the Build-Measure-Learn loop with the least effort.
- Watch out for vanity metrics. If you're building the wrong thing, optimizing it further won't save you.
- After every experiment, make an actual decision: pivot (change a fundamental hypothesis) or persevere (stay the course). Pivots are a normal, permanent part of a growing business, not a sign of failure.
- Work in small batches. Quality problems surface much sooner, and you move through the feedback loop faster than competitors working in big batches.
- Pick one engine of growth (viral, sticky, or paid) and focus there first. Trying to run all three at once usually just creates confusion.