Quotes About Entrepreneurship

They are fast. They embrace new thinking. They are geared for disruption and innovation through uncertainty. One

The Four Steps to the Epiphany

Si no solucionas problemas, nunca vas a adquirir la capacidad necesaria para hacer realidad esa gran visión». Y la manera de resolver problemas es descubrirlos sobre la marcha y luego pivotar para afrontarlos.

The goal of every startup experiment is to discover how to build a sustainable business around that vision.

The Innovator's Dilemma and The Innovator's Solution

This is true startup productivity: systematically figuring out the right things to build.

methodology Customer Development,

A famous example is the chain Potbelly Sandwich Shop, which today has over two hundred stores. It began as an antique store in 1977; the owners started to sell sandwiches as a way to bolster traffic to their stores. Pretty soon they had pivoted their way into an entirely different line of business.

Startups are different: too much budget is as harmful as too little—as countless dot-com failures can attest—and startups are extremely sensitive to midcourse budgetary changes.

Lean Startup: the application of lean thinking to the process of innovation.

startups are both easier and more demanding to run than traditional divisions: they require much less capital overall, but that capital must be absolutely secure from tampering.

Startup teams need complete autonomy to develop and market new products within their limited mandate. They have to be able to conceive and execute experiments without having to gain an excessive number of approvals.

Did they hire superstar entrepreneurs from outside the company? No, they assembled a team from within Intuit. Did they face constant meddling from senior management, which is the bane of innovation teams in many companies? No, their executive sponsors created an "island of freedom" where they could experiment as necessary. Did they have a huge team, a large budget, and lots of marketing dollars? Nope, they started with a team of five.

Startup Lessons Learned,

Third, entrepreneurs need a personal stake in the outcome of their creations.

The CEO and VP of product, instead of building their business, are engaged in the drudgery of solving just one customer's problem.

The solution to this dilemma is a commitment to iteration. You have to commit to a locked-in agreement—ahead of time—that no matter what comes of testing the MVP, you will not give up hope. Successful entrepreneurs do not give up at the first sign of trouble, nor do they persevere the plane right into the ground. Instead, they possess a unique combination of perseverance and flexibility. The MVP is just the first step on a journey of learning.

As startups grow, entrepreneurs can build organizations that learn how to balance the needs of existing customers with the challenges of finding new customers to serve, managing existing lines of business, and exploring new business models—all at the same time. And,

The Lean Startup is a set of practices for helping entrepreneurs increase their odds of building a successful startup.

Half of those products are generating revenue today, and the rest are awaiting initial orders, all thanks to the power of working in small batches.

work in any size company, even a very large enterprise, in any sector or industry.

What if we found ourselves building something that nobody wanted? In that case what did it matter if we did it on time and on budget? When I went home at the end of a day's work, the only things I knew for sure were that I had kept people busy and spent money that day.

Until we could figure out how to sell and make the product, it wasn't worth spending any engineering time on.

Yet if the fundamental goal of entrepreneurship is to engage in organization building under conditions of extreme uncertainty, its most vital function is learning.