![]() ![]() This requires a new kind of accounting designed for startups-and the people who hold them accountable. To improve entrepreneurial outcomes and hold innovators accountable, we need to focus on the boring stuff: how to measure progress, how to set up milestones, and how to prioritize work. Eric Ries is the author of The Lean Startup (4.11 avg rating, 306124 ratings, 4256 reviews, published 2011), The Startup Way (3.98 avg rating, 3838 ratin. All successful startup processes should be geared to accelerate that feedback loop. The fundamental activity of a startup is to turn ideas into products, measure how customers respond, and then learn whether to pivot or persevere. ![]() This learning can be validated scientifically by running frequent experiments that allow entrepreneurs to test each element of their vision. ![]() They exist to learn how to build a sustainable business. Startups exist not just to make stuff, make money, or even serve customers. In fact, as I will argue later, I believe “entrepreneur” should be considered a job title in all modern companies that depend on innovation for their future growth. ![]() A startup is an institution, not just a product, and so it requires a new kind of management specifically geared to its context of extreme uncertainty. That means entrepreneurs are everywhere and the Lean Startup approach can work in any size company, even a very large enterprise, in any sector or industry. The concept of entrepreneurship includes anyone who works within my definition of a startup: a human institution designed to create new products and services under conditions of extreme uncertainty. You don’t have to work in a garage to be in a startup. ![]()
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