I’m halfway through the book The Lean Startup by IT entrepreneur Eric Ries. He applies the popular “Lean” concept to the discipline of starting and growing a company, something that peaks my own interest.
The idea is to avoid wasting effort on misdirected ideas by making reality checks early and often. A perfectly created product is still worthless if it turns out no-one wants such a product. Almost worthless — you have now gained valuable information about the market and that is in fact the goal of the start-up enterprise. But that wisdom could have been won cheaper than through a full development cycle and a wasted product.
Go check the real reviews, the web site or the book itself for more information.
Just a few taglines that stuck with me so far; Every start-up has a number of leaps of faith. Assumptions are best tested by “go and see for yourself”. This might be very easy with some ingenuity! Validated learning is the goal of a start-up. The relevant metric of the endurance of a start-up is not time or money, but the number of strategy pivots the start-up still has room for.