Tag Archives: Eric Ries

Eric Ries on 5 Lessons Companies Can Learn From Startups

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Since the Great Recession in 2008, startups have become a major force in society. Today’s entrepreneurial culture — with lower financial barriers to launching a business and people’s increasing desire for flexibility, freedom, and purpose in their work — has bred a whole generation of young companies that have quickly scaled and revolutionized a wide range of industries. A number of those companies, like Airbnb and Uber, have achieved explosive growth and evolved into bonafide conglomerates in recent years.

Meanwhile, older organizations looking to remain relevant and thrive are striving to figure out the practices that allow these startups to excel — and how their corporations can adopt them in order to catch up.

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Father of “The Lean Startup” Movement Clarifies His Message: Don’t Bulls— Yourself

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Eric Ries discusses his lean startup methodology at General Assembly in New York City.

“Lean Startup is not a religion,” said Eric Ries, the 37 year-old author of The Lean Startup (2011), which is the handbook for what has become a cult-like movement embraced by entrepreneurs and innovators worldwide.

The core philosophy of the book – and of its practitioners – is to test ideas early and often by getting feedback from potential customers. Before investing very much time and money into a product, the idea is to quickly create an MVP (minimal viable product) and put it in front of potential consumers. This avoids wasting time and money developing products that people may not want.

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3 Lean Startup Tips for Building Your Business

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Eric Ries's lean startup book

Image courtesy of Betsy Weber via Flickr

“If you build it, he will come,” is the famous line from the film Field of Dreams, in which those mysteriously whispered words convince a farmer to replace his cornfield with a baseball diamond to draw people to use it. But while that may have worked in the film, it’s not necessarily the case when it comes to new apps, products, and services. How can you make sure you don’t invest your life savings in a business idea that users don’t want? That’s where the lean startup philosophy comes in.

If Eric Ries, blogger, entrepreneur, and author of The Lean Startup, were in charge of the cornfield, he would have tried something less drastic — like taking out an ad or building a web page — to find out if there was a need for a new stadium.

Reis’ philosophy is that instead of creating elaborate business plans and bringing fully fleshed-out products to market, it’s best to follow (and repeat) a three-step process — build, measure, and learn — to test and validate ideas prior to a major investment of time and resources.

The following three strategies will get your business on board with the lean philosophy in no time.

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