Learn the key ideas of the book by Eric Ries

The Lean Start Up

The Lean Startup method: innovating your way to a successful startup business

In The Lean Startup by Eric Ries, we will learn the principles of a world famous method that can be used by both new entrepreneurs and well established businesses that are looking to launch new and innovative products. There are five main principles which are based on a lean production method that uses three steps: vision, steer and accelerate. This is a process that will allow us to adapt to our customers’ needs step by step, and create an innovative product, in the least possible time, with the lowest costs and the highest chances of success.

The Lean Start Up
Read in 14 min.
Listen in 18 min.

Many useful tips to:

  • For anyone that has, or would like to build, a startup, and wants to read a book that started an actual worldwide movement: “The Lean Startup”.
  • To discover examples of some already established business practices, such as those adopted by Toyota.
  • To adopt a scientific approach to innovation and the measurement of results.

The author of the book:

Eric Ries is a young entrepreneur and world famous speaker. He was one of the founders of the social network and virtual world IMVU and the author of “Startup Lessons Learned”; he also writes a blog that is very popular in the United States. From his many experiences, and from his mistakes, he developed a methodology known as Lean Startup, which marked the beginning of a movement that spread throughout the world. He is currently a startup consultant for big companies and venture capital firms.

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The 5 principles of the Lean Startup method

The Lean startup method is based on five fundamental principles:

  1. Entrepreneurs are everywhere. They work in companies of all dimensions, in all sectors and in conditions of great uncertainty.
  2. Entrepreneurship is a form of management. A new type of management is needed, one that can operate in uncertain conditions, because a startup is an institution.
  3. Validated learning. It is thought that startups create products, when they actually learn how to create a sustainable business. Learning happens through frequent experiments that enable companies to continually check in on the central vision.
  4. Build-Measure-Learn. This is a cycle of feedback that involves three main activities: the transforming of ideas into products, the measurement of customer reaction, and the understanding whether to persevere with an idea or to try a new angle.
  5. Accounting for innovation. Any progress made needs to be measured, milestones must be set and priorities defined about which tasks to be performed. This improves the overall outcome of entrepreneurial activity.

The lean startup method springs from existing theories and they are: lean manufacturing, design thinking (a design theory that brings creativity and operative solutions together), from customer development and from agile development (the light method of developing software). Everything is based on lean manufacturing and the scientific way in which measurements are made, which enables validated learning. The whole entrepreneurial process can be divided into three steps: vision, guidance and acceleration. The book is divided into these three parts.

  

The key ideas of "The Lean Start Up"

01.
The 5 principles of the Lean Startup method
02.
Vision gives life to a startup but other than that, what is it for?
03.
A step by step guide to launching your own startup
04.
How to make your startup grow
05.
Quotes
06.
Take-home message
 
 
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