February 29, 2012

Bulk view

Visual book notes: The Lean Startup by Eric Ries

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Please feel free to share this! (Creative Commons Attribution Licence)

Eric Ries’ The Lean Startup book is popular, and for good reason. Ries shows people how to make the most of the Build-Measure-Learn loop whether they’re starting a snazzy technology company or creating an intrapreneurial venture within a corporation. Many people get hung up on the idea of launching with a big bang, but if you take this Lean Startup approach, you might learn a lot more by talking to actual customers and by experimenting with with your business. I particularly like the reminder to simulate technology with people first, as it can be tempting to procrastinate getting market feedback because your technology isn’t built yet. Do it by hand. Do it for one person at a time, if needed. There’s plenty to learn, and you don’t have to let development cycles slow you down.

Ries also emphasizes the importance of pivoting, which is what you do when you realize that your original business idea was off the mark. Pivoting is about listening to customers and growing into the business they want you to be, while taking advantage of the things you’ve learned in the past and the assets you’ve already built. Sometimes you should persevere instead of getting distracted by one or two stray opinions, but other times, you should listen to what people (and your experiments!) tell you.

Another key point in this book is that of accelerating this feedback loop. Get faster at building, measuring, and learning from the results. Orient your organization towards it. Practise relentless improvement until your build-measure-learn loop is fast and smooth. Then your company will be an incredible engine for learning!

Whom this book is great for: Starting a company? Read this book. You’ll get lots of tips from it, and you could save lots of time, money, and frustration along the way.

Interested in making things happen even within a large company? You might be able to use the build-measure-learn loop to make your day job even better, or to create scalable value outside your typical job responsibilities.

What I’m learning from this book: I’m using the concierge approach to help people with Quantified Awesome, because it’s fun building something that’s tailored to the way people work and what people want to measure. My goal is to get to the point where people are happy to pay $1-5 a month for tools to help them ask and answer questions about their life using data. I’m also going to work on using the build-measure-learn approach for entrepreneurship (a meta-experiment!), and using the minimum-viable-product approach to writing a book using LeanPub. Someday I might even use split-tests – or better yet, help businesses use them to set up experiments!

The Lean Startup
Eric Ries (2011: Crown Business)
ISBN: 978-0307887894
Buy this book: Amazon.com (Hardcover, Kindle) Amazon.ca
If you buy stuff through the links above, I get a small commission, yay! I’d tell you it’s a good book even without the commission, so here are some other links: Google Books, Toronto Public Library (book, e-book)

What do you think of this format? Do you want more detail? Less detail? More drawings? More hand-writing? More stick figures? What other books would you like me to visually summarize? I’m near one of the world’s biggest library systems, and I love learning from and sharing good books.

This is what five years looks like

I was thinking about my experiments with entrepreneurship the other day, and I realized that I have a lot of room to learn things. Books tell me it takes about five years for many businesses to shake out the bugs and settle down; even then, only about half of new ventures survive the first five years (according to US statistics). As a relentlessly optimistic person, I immediately read that as, “Cool! Half of new ventures succeed in surviving their first five years!”

Anyway. Five years is a long time. This is what five years looks like:

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Five years is longer than my university degree. It’s longer than the time I worked at IBM. If I work hard and I work smart, I should be able to learn lots of things in five years.

Things I am curious about:

  • How to help people, groups, and organizations adopt different ways of working: This is a challenge! It’s difficult to help one person change, much less a team, much less a community. But it’s essential because otherwise people will miss out on all these productivity improvements from technologies or processes. They’ll waste time. They’ll get frustrated. They won’t make the best decisions they can make. I want to help people work better so that they can focus on things that make the most of their skills and passions.
  • How to document and improve processes: Many organizations struggle to grow beyond one person or a small team. So many things aren’t written down. There are few processes in the beginning. Then there’s no time to document operations because there are too many things to do. Besides, people don’t feel like they can write down what they’re doing, or they’re too close and they forget what else other people would need to know in order to do their job. I can interview people and watch how they work, write those steps down, and make it easier for people to scale up by delegating, automating, or eliminating the things that they do.
  • How to communicate effectively and engagingly: People want to learn, but they don’t have the time to read lots of books or listen to lots of talks. I want to help people learn more effectively. People like the things I sketch or write about, and they like my presentations too. I want to learn more about things that help other people, and I want to get better at organizing and sharing what I learn.
  • How to build a scalable, sustainable business: I want to build a business that goes beyond the time = money equation. More than that, I want to learn how to systematically build these businesses, so that I can help other people do so too. That’s because there are a lot of people whose talents and skills aren’t sufficiently used because of their time requirements, their location, or other factors. I want to help more people have these options and create the kind of value they can create.

Five years should be a decent length for a self-made program. Maybe a Master of Business Awesomeness? Here we go. =)