The Lean Startup

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The Lean Startup
Lean Startup.png
Author Eric Ries
LanguageEnglish
GenreBusiness, non-fiction, Entrepreneurship
Publisher Crown Business (USA)
Publication date
2011 (USA)
Publication placeUnited States
Media typePrint (hardcover)
Pages336 p. (US hardcover edition)
ISBN 0307887898
OCLC 770494142

The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses is a book by Eric Ries describing his proposed lean startup strategy for startup companies. [1]

In his book, Ries applies scientific principles to entrepreneurship, advocating for an approach he calls "just-in-time scalability": conducting product experiments without massive up-front investments in planning and design. The book shows the value of actionable metrics for decision-making, and the importance of pivoting (changing course) when necessary. [2]

Ries developed the idea for the lean startup from his experiences as a startup advisor, employee, and founder. [3] [4] Ries attributes the failure of his first startup, Catalyst Recruiting, to not understanding the wants of their target customers and focusing too much time and energy on the initial product launch. [5] [6] [7]

After Catalyst, Ries was a senior software engineer with There, Inc., which had a failed expensive product launch. [5] [6] Ries sees the error in both cases as "working forward from the technology instead of working backward from the business results you're trying to achieve." [1]

Instead, Ries argues that to build a great company, one must begin with the customer research and interviews, developing a minimum viable product (MVP), and iterating based on feedback. [8] [9] He also recommends the Five Whys technique to identify the main cause of problems.

Companies cited in the book as practicing Ries's ideas include Alphabet Energy of California.

Later more organizations have adopted the processes, including Dropbox, Wealthfront, [10] and General Electric. [11]

Reception

According to the publisher, the book "has sold over one million copies and has been translated into more than thirty languages." [12] It was also on The New York Times Best Sellers list. [13]

Ethan Mollick, associate professor at the Wharton School of Business, has criticized the book's strategy of talking to customers as soon as possible, arguing that that customers often don't know what they want when it comes to new technologies. He also criticized the business model canvas for ignoring the most important question for a start up, "what is your hypothesis about the world based on your unique knowledge and beliefs?." On the other hand Mollick agrees with the idea that startups should engage in lots of experimentation. [14]

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References

  1. 1 2 Roush, Wade. Eric Ries, the Face of the Lean Startup Movement, on How a Once-Insane Idea Went Mainstream. Xconomy. July 6, 2011.
  2. ↑ Patel, Mitul (April 16, 2020). "Book Review: The Lean Startup by Eric Ries". The Bookish Elf. Retrieved June 7, 2023.
  3. ↑ Lohr, Steve. The Rise of the Fleet-Footed Start-Up. The New York Times. April 24, 2010.
  4. ↑ Solon, Olivia. Interview: Eric Ries, Author Of The Lean Startup. Wired. January 17, 2012.
  5. 1 2 Loizos, Connie. “Lean Startup” evangelist Eric Ries is just getting started. Reuters. May 26, 2011.
  6. 1 2 Venture Capital: Eric Ries, author of "The Lean Startup". YouTube. November 21, 2009.
  7. ↑ [https://livres-startup.fr/the-lean-startup.html Lean Startup: Adoptez l'innovation continue ]. Livres Startups. December 22, 2022.
  8. ↑ "Book Review: The Lean Startup | Masood Entrepreneurship Centre | The University of Manchester". Masood Entrepreneurship Centre. Retrieved June 19, 2024.
  9. ↑ "Understanding Lean Startup Methodology". Tech Empat. February 20, 2023. Retrieved June 19, 2024.
  10. ↑ "The Lean Startup | Case Studies". theleanstartup.com. Archived from the original on January 16, 2018. Retrieved January 5, 2018.
  11. ↑ "General Electric Wants to Act Like a Startup". Bloomberg.com. August 8, 2014. Archived from the original on March 15, 2016. Retrieved January 5, 2018.
  12. ↑ Ries, Eric (October 17, 2017). The Startup Way: How Modern Companies Use Entrepreneurial Management to Transform Culture and Drive Long-Term Growth (Unabridged ed.). Random House Audio. ISBN   9780147523303.
  13. ↑ "Hardcover Advice & Misc. Books – Best Sellers – October 2, 2011 – The New York Times". The New York Times. Archived from the original on January 27, 2017. Retrieved January 5, 2018.
  14. ↑ "What the Lean Startup Method Gets Right and Wrong". Harvard Business Review. October 21, 2019. ISSN   0017-8012 . Retrieved December 14, 2024.
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