Quotes from Eric Ries

Wealthy consumers cost more to reach because they tend to become more profitable customers.

The more specific the symptoms are, the easier it will be for everyone to recognize when it's time to schedule a Five Whys meeting.

For startups, the role of strategy is to help figure out the right questions to ask.

What if it turns out that the customer doesn't want the product we're building? Although this is never good news for an entrepreneur, finding out sooner is much better than finding out later. Working

As I can attest, anybody who fails in a startup can claim that he or she has learned a lot from the experience. They can tell a compelling story.

To facilitate learning, I have found it helpful to appoint a Five Whys master for each area in which the method is being used. This individual is tasked with being the moderator for each Five Whys meeting, making decisions about which prevention steps to take, and assigning the follow-up work from that meeting. The master must be senior enough to have the authority to ensure that those assignments get done

A startup is an institution, not just a product, and so it requires a new kind of management specifically geared to its context of extreme uncertainty.

Every business plan begins with a set of assumptions. It lays out a strategy that takes those assumptions as a given and proceeds to show how to achieve the company's vision. Because the assumptions haven't been proved to be true (they are assumptions, after all) and in fact are often erroneous, the goal of a startup's early efforts should be to test them as quickly as possible.

David faced the difficult challenge of deciding whether to pivot or persevere. This is one of the hardest decisions entrepreneurs face. The goal of creating learning milestones is not to make the decision easy; it is to make sure that there is relevant data in the room when it comes time to decide.

Una empresa moderna es aquella que posee ambas mitades, ambos sistemas. La empresa moderna tiene la capacidad de fabricar productos de alta fiabilidad y calidad, pero también de descubrir nuevos productos para su fabricación.

The more money, time, and creative energy that has been sunk into an idea, the harder it is to pivot.

As was mentioned earlier, this is not the way the Lean Startup model works, because customers often don't know what they want. Our goal in building products is to be able to run experiments that will help us learn how to build a sustainable business. Thus, the right way to think about the product development process in a Lean Startup is that it is responding to pull requests in the form of experiments that need to be run.

definition of a startup: a human institution designed to create new products and services under conditions of extreme uncertainty.

Compared to a lot of startups, the Grockit team had a huge advantage: they were tremendously disciplined. A disciplined team may apply the wrong methodology but can shift gears quickly once it discovers its error. Most important, a disciplined team can experiment with its own working style and draw meaningful conclusions.

All innovation begins with vision. It's what happens next that is critical. As

Before new products can be sold successfully to the mass market, they have to be sold to early adopters. These people are a special breed of customer. They accept—in fact prefer—an 80 percent solution; you don't need a perfect solution to capture their interest.4

All this time, David was learning and gaining feedback from his potential customers, but he was in an unsustainable situation. You can't pay staff with what you've learned,

They exist to learn how to build a sustainable business. This learning can be validated scientifically by running frequent experiments that allow entrepreneurs to test each element of their vision.

Build-Measure-Learn. The fundamental activity of a startup is to turn ideas into products, measure how customers respond, and then learn whether to pivot or persevere.

Startups have to focus on the big experiments that lead to validated learning.

El objetivo de una startup es averiguar qué debe producirse, aquello que los consumidores quieren y por lo que pagarán, tan rápidamente como sea posible.

We have the capacity to build almost anything we can imagine. The big question of our time is not Can it be built? but Should it be built? This

There is an antidote to this misuse of data. First, make the reports as simple as possible so that everyone understands them. Remember the saying "Metrics are people, too." The easiest way to make reports comprehensible is to use tangible, concrete units. What is a website hit? Nobody is really sure, but everyone knows what a person visiting the website is: one can practically picture those people sitting at their computers.

When startups start to run low on cash, they can extend the runway two ways: by cutting costs or by raising additional funds. But when entrepreneurs cut costs indiscriminately, they are as liable to cut the costs that are allowing the company to get through its Build-Measure-Learn feedback loop as they are to cut waste. If the cuts result in a slowdown to this feedback loop, all they have accomplished is to help the startup go out of business more slowly.