My 5 Favorite Quotes from the Lean Startup by Eric Ries

I thoroughly enjoyed reading this book. One important lesson I learned was that entrepreneurship (and startups) can exist even within structured and established organizations. This means the ideas of this book are relevant to both career people and business owners. Here are my 5 top quotes from the book.

“No business plan survives first contact with customers.”

We always assume because we came up with a brilliant idea, therefore we know the customer. With this statement, Eric highlights the unpredictability of customer behaviors. In the Lean Startup methodology, it is suggested that companies reduce the risks of launching a new product or service by testing their ideas with customers prior to launch. It is impossible to predict with certainty how customers will receive a product or service as it may differ from what was initially predicted in the business plan.

“Pivot or persevere: When you hit upon something that is not working, you have two basic choices: change direction or keep going.”

Things don’t often go as we have planned. Entrepreneurs need to make one of two choices when they face roadblocks or issues. The capacity to make the right decision in these situations can be the difference between success and failure.

“The goal of a startup is to figure out the right thing to build — the thing customers want and will pay for — as quickly as possible.”

This is the core value of the Lean Startup methodology — to test hypotheses and validate assumptions about what customers want as quickly and efficiently as possible in order to not waste resources on building something that nobody will want or buy.

“The Lean Startup approach is about respecting your team’s time. That goes beyond simply cranking out code. It includes careful planning to ensure that things run smoothly.”

This one is my personal favorite. As entrepreneurs (both internal and external), we need proper planning and execution while working in a startup environment. The quote emphasizes the idea that entrepreneurs should focus the team’s efforts on the things that matter, so that the resources available can be used to the greatest possible effect for the given task.

“Innovation is the key to any startup’s success. And the best way to foster innovation is to embrace experimentation and iteration.”

This quote is emphasizing the idea that innovation is the key to success for a startup. The best way to do this is by experimenting and iterating on ideas and initiatives in order to stay ahead of the competition.

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Which of the quotes do you like best? Or if you’ve read the book, let me know your favorite quote.

Peace!