Summary of The Lean Startup by Eric Ries
The Lean Startup by Eric Ries is a business book that comprises all of his experiences in creating the lean startup strategy. After all, various startups don’t succeed without even reaching a particular level or goal of theirs. And in this book, Ries emphasizes how startups should utilize innovative means, such as the “lean startup,” to change how businesses function.
Rather than coming up with intricate business plans, startups should focus on creating a system that allows testing, learning, and adjusting their approach through several series of continuous improvements.
Whom Is The Lean Startup Made For?
This book is made for startup owners or aspiring entrepreneurs who want to know how to create startups using a much more sustainable business model.
About Eric Ries, the Author of The Lean Startup
Eric Ries, the co-founder of IMVU, owns the well-known Startup Lessons Learned blog and author of The Lean Startup and The Startup Way. He is credited for creating the lean startup methodology. This methodology is featured in reputed papers such as the New York Times, Huffington Post, and more.
What Lessons Can You Learn From The Lean Startup?
We must learn what customers really want, not what they say they want or what we think they should want.Eric Ries
Ries emphasizes that the lean startup is all about finding out what your consumers want and how you can quickly determine it. And the way you can find out what customers want is through their action and inaction.
Here are some key lessons you can learn from Ries’ book:
- Entrepreneurship entails a process in which all startups can become proficient.
- A startup aims to find out what customers want to purchase quickly.
- Startups need to do testing and validating for their value and growth hypothesis.
- Startups can do experimenting as long as the risks are admissible.
The only way to win is to learn faster than anyone else.Eric Ries
As previously mentioned above, Ries explains that startups win by learning things quicker than others. And to do this, you can use the lean startup’s MVPs (minimum viable product) to pass through the Build, Measure quickly, and Learn feedback cycle, which is the methodology’s fundamental principle.
Is The Lean Startup Worth Reading?
If you’re looking for the most efficient means to get your business thriving and prevent your business from failing, then this book is worth reading. After all, the book discusses a methodology that Ries has proven and tested himself. With his first-hand knowledge as an employee, advisor, and founder, Ries will walk you through the fundamental principles of the lean startup methodology. Overall, The Lean Startup will ensure that your business methodically makes use of your capital and utilizes your company’s creativity adequately.
Business Books Similar to The Lean Startup
If this business book review compelled you to read this book, you might also try out similar books to this one. For instance, you may want to check out Peter Thiel and Blake Masters’ Zero to One: Notes on Startups, or How to Build the Future. This book tackles asking the questions that can help you find your value in places where you least expect to do so.
Another similar book to this one is the Business Model Generation by Alexander Osterwalder and Yves Pigneur. In this book, Osterwalder and Pigneur discuss various techniques companies use nowadays so you can methodically establish a brand new business model or implement changes on your current one.
To wrap it all up, The Lean Startup by Eric Ries is a recommended business book for any business that wishes to change the way they cater to their customers. By reading this book, startup owners can establish sustainable businesses that can survive in the long run thanks to Ries’ principles in his lean startup methodology. Especially in a period where startups need to become more innovative as possible, Ries’ can provide you with helpful insight that can help you take your startup to the next level.