Authors@Google: Eric Ries “The Lean Startup”
[Khairul’s Sunday Reviews]
I was browsing Youtube, like every free Sunday to learn about Startups. Entrepreneurship is a dream that I don’t want to kill. Startup is like my childhood dream. Its like building an economic empire. From grass-root level to the top most level into Forbes magazine. Entrepreneurship is not actually all about the money. It is the journey that matters. This presentation is very practical and not in the theory to reality conversion.
Some points to ponder;-
1. 7:30 Startup = Experiment / How to create a product that stop people wasting time.
2. 8:47 – We all know that most start ups fail.
3. 9:45- Which of these companies stand up and aspirations of their founders?
4. 11:19- We can build anything that we can imagine! Think about that!
5. 11:21 – The dominant question of our time is not can it be build BUT SHOULD IT BE BUILD?
6.11:29 -Can we built a product for a sustainable future?
7. 11:40 – The GDP of our nation is to be based on the – quality of our collective imagination! ( innovations)
8. 13:90 – In the past, the man was first. In the future, system will be first! (1911)
9. 15:58- Entrepreneurship is just management
10. 17:22 – Contrary what you see in the movie, most start up companies have bad ideas than from of the movie
11. 17:22- Pivot: CHANGE directions, but stay grounded in what we have learned
12. 17:50 – If we can reduce the time between pivots we can increase our odds of getting success before we ran out off money.
13. 18:10- How many opportunities do I have to pivot left?
14.19:48- If we are building something that nobody wants, what is the point of building it?
15. 20:29 -It came a thought to me that, the traditional business model will not work?
17. 22.37 – We are working for a product that nobody knows that the customer wants?
” The cycle of customer is the important as the product development. Customer discovery, customers validation, customer creation ”
19. Changing traditions to a validated business
20. 27:55 If you do not know who are the customer than you do not know what quality means?
21. 29:41 – The last thing in the book when you have fail is at least you have learned something from it
22. 32:45- Are we learning how to build a sustainable business? instead of dealing with complete waste of time
24.36:46- He talks about the ‘standard volume’ by GM- number of the sales
25. Three things that we must focus in innovative accounting
26. 39:55- Converting numbers into customers or conversion rates
Other post I have is by Jason Nazar on 10 strategies for startups
Eric Ries – London School of Economic – search @ youtube
Noah Kagan – How to start a business? from AppSumo
Objective: Hustle tonight.
3. Push up to the notch
Create the business. People want it or not?