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Eric Ries
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#Tags
Most companies are busy making their products worse, not better. Updating is almost always a disaster.
- Eric Ries
#Always
#Better
#Busy
#Disaster
#Worse
Nowadays people talk about PayPal's founders as prescient geniuses who would inevitably change the world. It was, however, not so obvious that PayPal would taste its first major success by helping people sell Beanie Babies on eBay. But they had a vision, a hope, and the perseverance to try multiple iterations until they got it right.
- Eric Ries
#Change
#Hope
#Perseverance
#Success
#Try
I bet the people who are in the auto industry right now have more than 10,000 good ideas about what might work and what we need to do is not come up with more good ideas. We need to go and test as many of those good ideas as possible.
- Eric Ries
#Good
#Ideas
#People
#Possible
#Work
Vanity metrics are the numbers you want to publish on TechCrunch to make your competitors feel bad.
- Eric Ries
#Bad
#Competitors
#Feel
#Numbers
#Want
At IMVU, the cost of customer acquisition through our five-dollar-a-day AdWords campaign was less than twenty-five cents. Our revenue from those same customers was more than a dollar.
- Eric Ries
#Campaign
#More
#Revenue
#Same
#Through
When it comes to meritocracy and diversity, the symbolic is real. And that means that simple actions that reduce bias, such as blind resume or application screening, are a double win: they reduce implicit bias and they help communicate our commitment to meritocracy.
- Eric Ries
#Commitment
#Diversity
#Real
#Simple
#Win
It was 1999, and we were building a way for college kids to create online profiles for the purpose of sharing... with employers. Oops. I vividly remember the moment I realized my company was going to fail. My co-founder and I were at our wits' end. By 2001, the dot-com bubble had burst, and we had spent all our money.
- Eric Ries
#Building
#Moment
#Money
#Purpose
#Way
There was a study done in the early 20th century of all the entrepreneurs who entered the automobile industry around the same time as Henry Ford; there were something like 500 automotive companies that got funded, had the internal combustion engine, had the technology, and had the vision. Sixty percent of them folded within a couple of years.
- Eric Ries
#Done
#Engine
#Technology
#Time
#Vision
It's a really paradoxical thing. We want to think big, but start small. And then scale fast. People think about trying to build the next Facebook as trying to start where Facebook is today, as a major global presence.
- Eric Ries
#Fast
#People
#Start
#Think Big
#Today
Learning to see waste and systematically eliminate it has allowed lean companies such as Toyota to dominate entire industries. Lean thinking defines value as 'providing benefit to the customer'; anything else is waste.
- Eric Ries
#Anything
#Learning
#See
#Thinking
#Value
The reality is the Lean Startup method is not about cost, it is about speed. Lean startups waste less money, because they use a disciplined approach to testing new products and ideas.
- Eric Ries
#Ideas
#Money
#New
#Reality
#Speed
Entrepreneurship is not really building a product, it's not having an idea, it's not being in the right place at the right time. It's fundamentally company building.
- Eric Ries
#Building
#Company
#Place
#Product
#Time
The problem with entrepreneurship is we are often working really hard producing high quality products that no-one wants. The creation of stuff is not valued.
- Eric Ries
#Creation
#Hard
#High
#No-One
#Quality
There's nothing wrong with raising venture capital. Many lean startups are ambitious and are able to deploy large amounts of capital. What differentiates them is their disciplined approach to determining when to spend money: after the fundamental elements of the business model have been empirically validated.
- Eric Ries
#Business
#Lean
#Money
#Nothing
#Wrong
There is no greater country on Earth for entrepreneurship than America. In every category, from the high-tech world of Silicon Valley, where I live, to University R&D labs, to countless Main Street small business owners, Americans are taking risks, embracing new ideas and - most importantly - creating jobs.
- Eric Ries
#Business
#Ideas
#Live
#Risks
#World
Prove to yourself that your business, in micro-scale at least, creates value. If you believe it, you'll find it that much easier to convince potential investors, partners and employees, too.
- Eric Ries
#Believe
#Business
#Find
#Value
#Yourself
Building the right product requires systematically and relentlessly testing that vision to discover which elements of it are brilliant, and which are crazy.
- Eric Ries
#Building
#Crazy
#Product
#Right
#Vision
There is much that public policy can do to support American entrepreneurs. Health insurance reform will make it easier for entrepreneurs to take a chance on a new business without putting their family's health at risk. Tort reform will make it easier to take prudent risks on new products in a number of sectors.
- Eric Ries
#Business
#Chance
#Family
#Health
#Risks
Here in Silicon Valley, I have taken part in hundreds of conversations trying to convince people to dive in and become entrepreneurs. All too often, innovators with good, safe, jobs are unwilling to put their family's access to health care at risk by walking away from company-backed medical insurance.
- Eric Ries
#Care
#Family
#Good
#Health
#Medical
Famous pivot stories are often failures but you don't need to fail before you pivot. All a pivot is is a change is strategy without a change in vision. Whenever entrepreneurs see a new way to achieve their vision - a way to be more successful - they have to remain nimble enough to take it.
- Eric Ries
#Change
#Famous
#New
#Strategy
#Vision
#Way
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