Risk is the characteristic that distinguishes a startup from any other type of business. Imagine the experience of quitting a stable, secure job to venture into the unknown. It’s terrifying, and if you’re reading this blog post, you know how terrifying this experience is — because you’ve probably done it.
That’s why Eric Ries wrote The Lean Startup — to help companies navigate and minimize these risks through minimum viable products (MVPs), rigorous experimentation, and a commitment to learning.
If you’re a startup founder, you’ve probably heard of The Lean Startup. You’ve come across the term ‘vanity metrics’ and you know why ‘innovation accounting’ is important.
But what inspired the evolution of these big concepts? What do they mean?
In May, Clarity Live asked Eric Ries to walk us through the evolution of The Lean Startup: how it came to be, why it matters, what defines a startup, and how to drive continuous innovation. Here’s a look into one of Silicon Valley’s most inspiring stories:
As Eric puts it, “we have to change our notion of what a modern company looks like.” Disruptive innovation comes from cross-functional teams, comfort with failure, and a rigorous commitment to learning. Every company, large or small, can become a startup. Entrepreneurship is a crucial function for almost any type of organization.
What do you think? Share your feedback and thoughts in the comments section below.
Eric Ries is an entrepreneur and author of the New York Times bestseller The Lean Startup. He co-founded and served as CTO of IMVU. Today he serves on the board of directors for Code for America and as an advisor to a number of startups.