Status Updates From 精實創業: 用小實驗玩出大事業

Assertive occasional delusions. Felt a bit enlightened but confused at the same time. Its core idea is stated very early in the book, everything else is just expanding on that

reading for class

The most boring bs book i ve read in the field. The startup hype is gone and now this book is laughable

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Test

I am loving this book so far. It’s an easy read. I highly recommend it to someone who wants to understand how to build a business in today’s uncertain times. It makes so much sense. It talks about core concepts of the Lean Startup Method using real life case examples. Quite insightful.

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#6

When confused about how many features you need in MVP, simplify.
MVP to "begin" the learning process and to test fundamental business hypotheses.

MVP can be a video, concierge MVP.

A ready-made road map AFTER tons of MVP iterations. Once having it, you might get acquired too.

Public marketing launch once the product has proved itself with real customers.

Commit to MVP iterations. Don't give up.

#5

Leaps of faith: Acting as if these assumptions are true.
Confirm that your LOF questions are based in reality.

Success theater
: growing through fund-raising from investors or lots of paid advertising do NOT develop a value-creating product

You cannot understand your business problem unless you go and see for yourself firsthand, not on your whiteboard.

Build-Measure-Learn feedback loop -> minimize the total time through the loop

But reverse-order thinking:

Figure out what to learn -> what to measure -> what to build

#4 Experiment

Identify the elements of the plan that are assumptions rather than facts

1. Value hypothesis
: whether a product really delivers value to customers once they are using it
- avoid survey. They don't assess themselves objectively
2. Growth hypothesis
: how new customers will discover a product & how will it spread?

Measure what the customers actually did with MVP, not your task completion progress

#3

Just learning is an excuse -> Validated Learning

Work = value OR waste
: value to learn what customers want. Else, waste.

Systematically collect real data from customers and figure out the right things to build

Don't waste resources to make ourselves "look" successful

Can this product be built? (X)
Should this product be built?
Can we build a sustainable business around this set of products & services?

#2
Startup = a human institution designed to create a new product or service under conditions of extreme uncertainty
-> Anyone creating a new product/business under conditions of extreme uncertainty is an entrepreneur, regardless of org size

Company's only sustainable path = continuous innovation (requires experiments)

It's a job of leadership to create conditions that enable employees to run experimentation.

#1

"Just do it" attitude doesn't work. Still gotta manage, but in an entrepreneurial way.

Minimize the waste of resources: time, passion, skills

The goal of a startup = "figure out" the right thing to build.

Driving a car vs rocket launch -> drive a startup. React quickly and make constant adjustments while knowing the destination: world-changing business.

Vision -> Strategy (pivot) -> Product (optimization)

# intro

Lean Startup = a new approach to "creating" "continuous" "innovation"

It’s the boring stuff that matters the most. Startup success is not a consequence of good genes or being in the right place at the right time.

# 5 principles
1. Entrepreneurs are everywhere.
2. Entrepreneurship is management.
3. Validated learning
4. Build-Measure-Learn
5. Innovation accounting.

Chapter 6. Test

A lot of “yeah duh” content. Probably good if you’re early in your business education.

This is just a really long winded way of “make data based decisions”

Learned about AAA metrics. Available, auditable and actionable. Part of a system. Experiments as a b tests. And as the way to settle arguments.

This is an ever relevant book with deep insight on understanding especially failures

Brief interlude to romance and fiction for a school assignment

Slow at first, but interesting. Good take always.

Very insightful, not just of the early stages of startup but throughout the maturation period

Just got to chapter 7. So valuable, definitely a re-reader

Great insights into innovation in the product development process and validating what is being built

The world needs a hero - Megadeth

The world need a hero - Megadeth

Dread and the fugitive mind - Megadeth

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“Markets change all the time and our job is to change with them”