The Lean Startup

High-Level Thoughts

The essence of building a startup is validating some sort of product based hypothesis by finding people who will pay for it. Invest the absolute bare minimum to do so, and build it as quick as possible. Be messy.

Summary Notes

Startup success can be engineered by following the right process.

Build-Measure Learn feedback loop: The only way to win is to learn faster than everyone else.

Build only the amount of product that is needed to iterate through a single cycle of the Build-Measure-Learn loop.

Validated learning

Never ever indulge in vanity metrics. Only metrics directly related to profitability.

Innovation Accounting: establish a baseline, tune the engine, pivot or perservere.

Find a solid business model by validating your idea. Get people to pay as soon as possible.

Tell value from waste with split-testing.

genchi gembutsu- go and see for yourself

Toyota’s famous andon cord allows any worker to ask for help as soon as they notice any problem. Stops assembly line.

Quality control work in small batches.

Kanban stages: backlog, in progress, built, validated. None of any 4 stages can have more than 3 projects at one time.

Five why's.