I gave my ideas to so many people, send 300 emails describing my ideas asking for help. Nobody stole it. NOBODY I believed it was my best idea. Absolutely accurate
it's funny he says he was shocked to find out you could get paid to program computers. i too found it strange that people went to school to learn how to program. I thought programing was something you did in your free time and learned on your own, without even a book, with friends giving you tips they figured out or were shown by their friends. because, in my mind, the product was the only thing that mattered, not some degree.
I came from the future to tell you that Eric Ries is also in the end of the “social networking”. Facebook, now Meta, just launched the 3D Avatars platform!😂
Eric is a great speaker but I did not learn much about what Lean Startup is all about. * Dont ask what customers want. Do "experiment". * Dont create the wrong product. Well, DUH. The problem is finding out if your product is wrong. * Cont. integration, unit tests. Now I understand why the product was not done in 6 months. Unit testing take a long time to write and maintain. Besides if his code was so perfect that takes time as well. If you have limited time and money then you HAVE to cut some corners. Did anyone understand the vanity matrix without having read the book? Just from this talk?
* Dont ask what customers want. Do "experiment". -according to the Lean principles, the primary purpose is to eliminate waste. From the Lean Startup point of view, asking a customer if they would pay money for a particular product is a waste, as the consumer may state that indeed they would pay and, in fact, they would never purchase. As such most customers do not know what they want. * Dont create the wrong product. Lean Startup aims to create MVPs, which are supposed to be affordable and minimize the number of initial features. It is part of finding the right product for the right market. The accent is here to create a "primitive" product and test the market's reaction. * Cont. integration, unit tests.- this is the fine-tuning part. Technically, the assumption is that if you understand your customer, then your product will be perfect for the customer. Therefore, your primary purpose is to learn. I have read the book. I have read your comment, and I thought that I may be able to shed some light on how the Lean Startup is intended to be used.
@@jozsefcsernatoni9008 Thank you for your reply. It seems to me that Lean Startup does not really have traction anymore, but I don't know if that is true. "As such most customers do not know what they want." So how do we find out. I seem to remember that you would place a button for some functionality and see if people click the button. But that seems like a superficial test to me. I think that you must rely on the belief that if YOU like a feature then surely you are not alone. That's is why you should create products you would use yourself. I am not sure about MVP. Releasing sub par software must be a path towards failure unless your product is very unique. Why would a user use, say, watered down task tracking software when there are 1000s around with full features? They certainly would not pay for it. And if it lacks features they may leave and never come back. I believe in making a good product and not blowing the one chance to impress my users. But...I have never done a startup yet. So I know nothing. Just my thoughts.
@@BarrySlisk My pleasure. Possible. I believe most people do not actually understand the power of this framework. While other frameworks may give you guidelines on managing the development process, the Lean Startup framework will guide you on how to develop and position your product. Consider Zoom as a product. When it was launched, its main concept was innovative to provide a classroom-like experience. It was slowly growing and, thanks to Covid, became a well-known brand. The initial product had minimal functionalities and was built up based on the customer's needs. The problem with what YOU like is that you will tend to fall in love with your idea as an entrepreneur. However, the customer may or may not share your view. While a dictionary considers that innovation is always about a new idea/tool, in business an old tool can be innovative if it is used in a new way. Alibaba is basically a company directory with some added features. The biggest mistake you can make as an entrepreneur is to try to impress your users. If your product has the proper functionalities and works decently, you will tap into the uncharted territory of the early adopters. They are fearless pioneers who are happy to try things before others, even if the product is not perfect. Learning from them, you can make the product fit for the market. If you consider doing a startup, you must read the book, and it is mind-blowing.
@@jozsefcsernatoni9008 "If you consider doing a startup, you must read the book, and it is mind-blowing" Working on it as we speak ;) My project does not really have value unless there are many users (buyers and sellers), so I can't rely on early adopters/pioneers. That's why I want a somewhat finished site and then use some money on advertising to get things going. I am thinking I need one big push. Fortunately I am just me and have no investors, so I have the "luxury" of time to get ready.
One of the easiest ways to do business is to think like a businessman/woman. The advantage of the Lean Startup is that it makes sense businesswise. Indeed, there are businesses which can be made profitable only when they are viral. However, it is far more relevant to have cash flow than to make a profit. Without profit, you can survive in the short and medium term. However, without cash flow, your business will fail in a short time. I assume that you would like to make your venture profitable. For this, either you should learn the basics of business or get someone on board who knows the business. Otherwise, even if you have the most fantastic idea if you are not familiar with: -with the different strategies, -how to assess the external environment, -ways to fund a business, -how to reposition a business, -how to take the company through the various stages of growth, etc., you can easily waste your time. Good Luck!
20 minutes of my time listening to something that gave zero value so I finally cut it off.... he doesn't know how to give an interesting speech. not good advertising for a book that may be equally boring.
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I gave my ideas to so many people, send 300 emails describing my ideas asking for help. Nobody stole it. NOBODY
I believed it was my best idea.
Absolutely accurate
it's funny he says he was shocked to find out you could get paid to program computers. i too found it strange that people went to school to learn how to program. I thought programing was something you did in your free time and learned on your own, without even a book, with friends giving you tips they figured out or were shown by their friends. because, in my mind, the product was the only thing that mattered, not some degree.
not all startups are boring. the very idea of being continuously challenged cannot be boring.
absolutely informative , i think i have learned so much from every moments of this video , special thanks for uploading .
Thank u ERIC U DID IT
How may copies of your book have you sold
I came from the future to tell you that Eric Ries is also in the end of the “social networking”. Facebook, now Meta, just launched the 3D Avatars platform!😂
How often has an employee had a bright idea and shared it with the boss while said boss takes the credit and gets a bonus from the CEO
But why does anyone share bright ideas with an employer without first negotiating terms?
All the time?
After admonishing you in the group meeting for how "terrible" of an idea it was.
great talk! good information.
is anyone listening to him, it sounds like there's a separate conference going on in the background
Thank you so much Sir
A startup is a human institution designed to create something new under conditions of extreme uncertainty.
Very informative thanx
more accurately, you want to know what he read to get to this point? i'd like to know that too.
I want to know what Eric reads on daily basis
Fantastic!
Really informative!
Eric Ries becomes more and more my new idol ;>
Eric
41:30 strategy
What the hell is all the chatter in the background?
Eric is a great speaker but I did not learn much about what Lean Startup is all about.
* Dont ask what customers want. Do "experiment".
* Dont create the wrong product.
Well, DUH. The problem is finding out if your product is wrong.
* Cont. integration, unit tests.
Now I understand why the product was not done in 6 months. Unit testing take a long time to write and maintain. Besides if his code was so perfect that takes time as well. If you have limited time and money then you HAVE to cut some corners.
Did anyone understand the vanity matrix without having read the book? Just from this talk?
* Dont ask what customers want. Do "experiment". -according to the Lean principles, the primary purpose is to eliminate waste. From the Lean Startup point of view, asking a customer if they would pay money for a particular product is a waste, as the consumer may state that indeed they would pay and, in fact, they would never purchase. As such most customers do not know what they want.
* Dont create the wrong product. Lean Startup aims to create MVPs, which are supposed to be affordable and minimize the number of initial features. It is part of finding the right product for the right market. The accent is here to create a "primitive" product and test the market's reaction.
* Cont. integration, unit tests.- this is the fine-tuning part. Technically, the assumption is that if you understand your customer, then your product will be perfect for the customer. Therefore, your primary purpose is to learn.
I have read the book. I have read your comment, and I thought that I may be able to shed some light on how the Lean Startup is intended to be used.
@@jozsefcsernatoni9008
Thank you for your reply. It seems to me that Lean Startup does not really have traction anymore, but I don't know if that is true.
"As such most customers do not know what they want."
So how do we find out. I seem to remember that you would place a button for some functionality and see if people click the button. But that seems like a superficial test to me.
I think that you must rely on the belief that if YOU like a feature then surely you are not alone. That's is why you should create products you would use yourself.
I am not sure about MVP. Releasing sub par software must be a path towards failure unless your product is very unique.
Why would a user use, say, watered down task tracking software when there are 1000s around with full features? They certainly would not pay for it.
And if it lacks features they may leave and never come back.
I believe in making a good product and not blowing the one chance to impress my users.
But...I have never done a startup yet. So I know nothing. Just my thoughts.
@@BarrySlisk My pleasure. Possible. I believe most people do not actually understand the power of this framework. While other frameworks may give you guidelines on managing the development process, the Lean Startup framework will guide you on how to develop and position your product.
Consider Zoom as a product. When it was launched, its main concept was innovative to provide a classroom-like experience. It was slowly growing and, thanks to Covid, became a well-known brand. The initial product had minimal functionalities and was built up based on the customer's needs.
The problem with what YOU like is that you will tend to fall in love with your idea as an entrepreneur. However, the customer may or may not share your view.
While a dictionary considers that innovation is always about a new idea/tool, in business an old tool can be innovative if it is used in a new way. Alibaba is basically a company directory with some added features.
The biggest mistake you can make as an entrepreneur is to try to impress your users. If your product has the proper functionalities and works decently, you will tap into the uncharted territory of the early adopters. They are fearless pioneers who are happy to try things before others, even if the product is not perfect. Learning from them, you can make the product fit for the market.
If you consider doing a startup, you must read the book, and it is mind-blowing.
@@jozsefcsernatoni9008
"If you consider doing a startup, you must read the book, and it is mind-blowing"
Working on it as we speak ;)
My project does not really have value unless there are many users (buyers and sellers), so I can't rely on early adopters/pioneers.
That's why I want a somewhat finished site and then use some money on advertising to get things going. I am thinking I need one big push.
Fortunately I am just me and have no investors, so I have the "luxury" of time to get ready.
One of the easiest ways to do business is to think like a businessman/woman. The advantage of the Lean Startup is that it makes sense businesswise.
Indeed, there are businesses which can be made profitable only when they are viral. However, it is far more relevant to have cash flow than to make a profit. Without profit, you can survive in the short and medium term. However, without cash flow, your business will fail in a short time.
I assume that you would like to make your venture profitable. For this, either you should learn the basics of business or get someone on board who knows the business.
Otherwise, even if you have the most fantastic idea if you are not familiar with:
-with the different strategies,
-how to assess the external environment,
-ways to fund a business,
-how to reposition a business,
-how to take the company through the various stages of growth, etc., you can easily waste your time.
Good Luck!
thanks
#waitingforzoul
oh boy.. minute 12 and his self fulfilled prophecy became true. I'm so bored.
tell him the truth, this vid was extremelly boring =D
20 minutes of my time listening to something that gave zero value so I finally cut it off.... he doesn't know how to give an interesting speech. not good advertising for a book that may be equally boring.