Summary
The Lean Startup offers a scientific approach to creating and managing startups and getting a desired product to customers' hands faster, based on validated learning, rapid experimentation, and counterintuitive practices that shorten product development cycles, measure actual progress, and learn what customers really want.
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These are the best quotes from The Lean Startup by Eric Ries. If you want to read a full summary of this book for free, click here.
Learning to See Waste
"Learning to see waste and then systematically eliminate it has allowed lean companies such as Toyota to dominate entire industries."
Section: 1, Chapter: 1
A Startup's Runway = Number of Remaining Pivots
"A startup's runway is the number of pivots it can still make."
Entrepreneurs often speak of runway - the amount of time until a startup runs out of money. But Ries argues that the real definition of runway is the number of opportunities a startup has left to pivot. It's the number of times a startup can make a major change to its business strategy. A startup can extend its runway two ways:
- By reducing costs or raising additional funds to add more time
- By pivoting faster to find a sustainable business model sooner The goal is to find ways to achieve the same amount of validated learning at lower cost or in a shorter time. Ries argues pivots are a more useful measure of runway than financials.
Section: 2, Chapter: 8
Entrepreneurship Inside Large Organizations
"Entrepreneurship should be considered a viable career path for innovators inside large organizations."
Section: 3, Chapter: 12
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