Acclaim for THE LEAN STARTUP

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3. I want to thank Caroline Barlerin and HP for allowing me to include my experimental analysis of this new project. 4. Information about Kodak Gallery comes from interviews conducted by Sara Leslie. 5. The VLS story was recounted by Elnor Rozenrot, formerly of Innosight Ventures. Additional detail was provided by Akshay Mehra. For more on the VLS, see the article in Harvard Business Review: http://hbr.org/2011/01/new-business-models-in- emerging-markets/ar/1 or press coverage at http:// economictimes.indiatimes.com/news/news-by-company/ corporate-trends/village-laundry-services-takes-on-the-dhobi/ articleshow/5325032.cms 6. For more on the early eorts of the CFPB, see the Wall Street Journal’s April 13, 2011, article “For Complaints, Don’t Call Consumer Bureau Yet”; http://online.wsj.com/article/SB100 01424052748703551304576260772357440148.html. Many dedicated public servants are currently working hard to incorporate this experimental approach in the public sector under the leadership of President Obama. I would like to thank Aneesh Chopra, Chris Vein, Todd Park, and David Forrest for introducing me to these groundbreaking efforts. Chapter 5. Leap 1. For example, CU Community, which began at Columbia University, had an early head start. See http://www.slate.com/ id/2269131/. This account of Facebook’s founding is drawn from David Kirkpatrick’s The Facebook Effect (New York: Simon & Schuster, 2011). 2. Actual engagement numbers from 2004 are hard to nd, but this pattern has been consistent throughout Facebook’s public statements. For example, Chris Hughes reported in 2005 that “60% log in daily. About 85% log in at least once a week, and 93% log in at least once a month.” http://techcrunch.com/
93% log in at least once a month.” http://techcrunch.com/ 2005/09/07/85-of-college-students-use-facebook/ 3. I rst heard the term leap of faith applied to startup assumptions by Randy Komisar, a former colleague and current partner at the venture rm Kleiner Perkins Caueld & Byers. He expands on the concept in his book Getting to Plan B, coauthored with John Mullins. 4. http://www.forbes.com/2009/09/17/venture-capital-ipod- intelligent-technology-komisar.html 5. “A carefully researched table compiled for Motor magazine by Charles E. Duryea, himself a pioneer carmaker, revealed that from 1900 to 1908, 501 companies were formed in the United States for the purpose of manufacturing automobiles. Sixty percent of them folded outright within a couple of years; another 6 percent moved into other areas of production.” This quote is from the Ford biography The People’s Tycoon: Henry Ford and the American Century by Steven Watts (New York: Vintage, 2006). 6. Jeffrey K. Liker, The Toyota Way. New York: McGraw-Hill, 2003, p. 223. 7. http://www.autofieldguide.com/articles/030302.html 8. In the customer development model, this is called customer discovery. 9. For more on the founding of Intuit, see Suzanne Taylor and Kathy Schroeder, Inside Intuit. 10. For more on the Lean UX movement, see http://www.cooper. com/journal/2011/02/lean_ux_product_stewardship_an.html and http://www.slideshare.net/jgothelflean-ux-getting-out-of-the- deliverables-business Chapter 6. Test 1. http://www.pluggd.in/groupon-story-297/ 2. “Groupon’s $6 Billion Gambler,” Wall Street Journal; http://
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Acclaim for THE LEAN STARTUP
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—Geoffrey Moore, author, Crossing
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Copyright © 2011 by Eric Ries All
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Contents Cover Title Page Copyright
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Introduction S top me if you’ve h
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can be engineered by following the
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product vision. These supposed xes
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entrepreneurship, the movement has
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have neither. The second problem is
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shooting in the dark. We are relyin
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Part One VISION
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previous time in history. This has
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manufacturing is measured by the pr
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Every new version of a product, eve
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Products change constantly through
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2 DEFINE WHO, EXACTLY, IS AN ENTREP
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ecosystem regardless of company siz
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In 2009, a startup decided to try s
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accountable. In other words, cultiv
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signicant number of existing custom
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3 LEARN A s an entrepreneur, nothin
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ventures that had failed, and we we
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moving parts that we had to cut a l
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Out of desperation, we decided to t
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eight.” We had no idea how many i
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eliminate it has allowed lean compa
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trying to convince investors, emplo
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gathered suggested new experiments
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entrepreneur in residence. I’ve a
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FROM ALCHEMY TO SCIENCE The Lean St
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1. It had more accurate data about
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nicely. Yet despite all that work,
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second time? How many are willing t
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finding justified the significant e
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them to dry, which takes two to sev
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and innovation to make the agency m
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have the opportunity to closely mon
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Part Two STEER
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This Build-Measure-Learn feedback l
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objectively; they are also invaluab
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spent. In other words, Facebook als
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The problem with analogies like thi
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the biggest market opportunities in
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To demonstrate, take a look at the
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conversations were designed to answ
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6 TEST G roupon is one of the faste
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At IMVU, when we were raising money
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Most entrepreneurs approach a quest
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made a video. The video is banal, a
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sign up for a new service sight uns
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city?” and the technology flails.
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with humans replicating pieces of t
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we are not even sure who the custom
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quality products, but only in servi
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of these cases, there is an easy so
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7 MEASURE A t the beginning, a star
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changes we’ve made are related to
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For example, a startup might create
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INNOVATION ACCOUNTING AT IMVU Here
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This graph represents approximately
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might, we were getting straight C
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When I meet with those teams, there
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much more exciting. That’s why I
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important connection: “I have thi
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equirements of the product owner (t
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was judged by its ability to improv
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The questioning inspired the team t
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I have implemented this system with
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Even more important than reducing w
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from their actions. Human beings ar
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metrics, “auditable,” is so ess
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8 PIVOT (OR PERSEVERE) E very entre
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1. Customers would be interested en
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easy; it is to make sure that there
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@2gov had a slightly dierent set of
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leap-of-faith questions, David conc
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the U.S. population and has deliver
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pivot or persevere, whether to chan
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THE PIVOT OR PERSEVERE MEETING The
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2. The game would grow using the vi
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not launched its current product, t
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A customer segment pivot is an espe
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incorrectly as a synonym for change
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Value Capture Pivot There are many
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similar to that of a successful com
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Part Three
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Start Your Engines Most of the deci
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accounting method described in Part
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is so named because it has a batch
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producers. Over time, that capabili
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they immediately would release a ne
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in consumer electronics. The latest
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Small Batches in Education Not ever
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change, you could roll it out immed
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The original version had been years
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warehouses immediately shrink, as t
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This has enabled Alphabet Energy to
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THE STARTUP WAY
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companies had used their early succ
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We saw in Part Two how important it
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suited to testing the value hypothe
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and its speed is determined by a si
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Imagine that the rst company uses G
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those were all services the company
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ying out of the factory as fast as
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Chapter 6 emphasized the importance
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11 ADAPT W hen I was the CTO of IMV
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eward extreme polarization, that’
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what we have learned to get to work
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3. Why was it not lubricated sucien
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I used the example of engineering t
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When blame inevitably arises, the m
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sometimes will devolve into the Fiv
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Page 245 and 246: Scarce but Secure Resources Divisio
Page 247 and 248: development.1 On the ip side, I kno
Page 249 and 250: spent debating the data because, in
Page 251 and 252: can we protect the internal startup
Page 253 and 254: are considered real and the innovat
Page 255 and 256: Once the market for the new product
Page 257 and 258: to train new team members in the ne
Page 259 and 260: It took a constant eort to consider
Page 261 and 262: online, and suggestions for how you
Page 263 and 264: extremely harmful and required the
Page 265 and 266: century, too, before people knew ab
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Page 269 and 270: spawned to correct those deficienci
Page 271 and 272: test the impact of those factors on
Page 273 and 274: vision but not to abandon it. We wo
Page 275 and 276: yourself. The Lean Startup Wiki Not
Page 277 and 278: • Ash Maurya has emerged as a lea
Page 279 and 280: The idea of the Build-Measure-Learn
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Page 285 and 286: more on Dropbox’s success, see
Page 287 and 288: you move the pile around between st
Page 289 and 290: article2/0,2817,35549,0
Page 291 and 292: Acknowledgments I owe a tremendous
Page 293 and 294: Telepathy, designed and built the w
Page 295: About the Author ERIC RIES is an en
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Acclaim for THE LEAN STARTUP

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