Test a small idea to answer a big question.

You will not gain validated learning this way.

Don’t follow the “Just do it” line of thinking.

The better questions are, “Should this product be built?” and “Can we build a sustainable business around this set of products and services?”

The question is not, “Can this product be built?” Almost anything is possible.

Can you validate your hypothesis without building anything? Run an experiment and measure customer behavior.

Any action that does not contribute to learning about what creates value for customers is a form of waste.

Leadership requires creating conditions that enable employees to do the kinds of experimentation that entrepreneurship requires.

Innovation is a bottoms-up, decentralized, and unpredictable thing, but that doesn’t mean it cannot be managed.

A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty.

Products change constantly through the process of optimization.

The product is the result of the strategy.

Strategy includes the business model, product road map, opinions about the competition and assumptions about who the customer will be.

Strategy is what you use to achieve the vision.Instead of making a complex plan and then trying to implement it, get into the Build-Measure-Learn feedback loop as quickly (and cheaply) as possible.But learning is what a startup needs to focus on the most. Learning milestones feel less productive because learning is intangible.Entrepreneurship is a kind of management.Startup success can be engineered by following the right process, which means it can be learned, which means it can be taught.But I pick and choose ideas to include at my discretion. The following book summary is a collection of my notes and highlights taken straight from the book. Use MVPs to cycle through the Build-Measure-Learn feedback loop as fast as possible.Test and validate your value and growth hypothesis.They reveal the truth through their action or inaction. Customers do not tell us what they want.

The goal of a startup is to figure out the right thing to build – the thing customers want and will pay for – as quickly as possible.

There is a process to entrepreneurship that can be learned.

Instead of creating elaborate business plans, The Lean Startup offers a framework for startups to test, learn, and adjust their strategy through a cycle of continuous improvement.

This book teaches entrepreneurs how to navigate extreme uncertainties by testing scientific hypotheses with a minimal viable product (MVP). American entrepreneur, blogger, and author, Eric Ries, has combined the lessons learned from leading startups with the principles from lean manufacturing to create an approach for building new companies that is capital efficient and leverages human creativity more effectively.

The lean startup by eric ries