10 minute read
Please login to rate.
Most startup companies fail. This is not something that entrepreneurs like to think about when they are starting a company, but it is something that can’t be ignored.
In The Lean Startup, Eric Ries gives entrepreneurs a roadmap to better navigate the winding, rocky path that is starting a new business. Whether your company was built in your basement or whether it has hundreds of million dollars at its disposal, Ries has come up with a method that can help startups grow into businesses that can really go the distance.
A startup can’t be run the same way as an established business can, with plans, milestones, and task delegation based on what strategies have performed well in the past. A startup has no past!
The key to Ries’ “lean startup” idea is flexibility. The manager of the startup should have a goal in mind,...
A startup cannot be managed the same way as a company that is already established. It can’t refer to the past to find success in the future, so the best way to gain customers and revenue is to use a scientific approach. Build and test products as quickly as is feasible, experiment and learn as you go, then use what you learn to change course when it is necessary. Flexibility is key, as is the desire to learn and improve.
Eric Ries is an American entrepreneur, author, and blogger. He attended Yale University and has founded multiple startup companies in addition to working in an advisory capacity for other startups, large businesses such as GE, and venture capital firms. He has held the position of entrepreneur-in-residence at Harvard’s Business School, Pivotal, and IDEO and is the CEO and founder of the Long-Term Stock Exchange.
Since The Lean Startup was published in 2011, Ries’ idea of a lean startup has spread around the globe, leading his book to the bestseller list. His strategy is used by both big companies and individuals starting their own businesses.
Ries and his wife live in San Francisco with their two children.