Review: The Lean Startup

Notes

• Build, Measure, Learn
• What is startup? Human institution designed to create something new, under condition of extreme uncertainty.
• Startup = Experiment to creating a sustainable business
• Entrepernuership = Management
• The good entrepernuer doesn't have a better idea than a bad entrepenuer (equally ridiculous), the only different is they don't give up, neither do they preservere into studborness
• Pivot = change is strategy, not a change in vision
• Startup Runway = how many more opportunity to pivot before we run out; raise more money to extend the runway or get to the moment of pivoting sooner
• Learning is used to justify failure; could you fasten the learning from 6 months to 1 months, or by testing the market with a smaller product or no product at all?
• Innovation Accounting = MVP, weekly pivoting meeting
• How do products grow? Are we creating value? What's in the MVP? Can we go faster?
• Don't just listened to me as I am a failure, or I could be lying to you. A true entrepreneur don't take down notes at seminar like this and go back to implement them. What work for me might not work for you, and what work before might not work now. What I hope you would do is take bits and pieces of this scientific framework, experiment with it and tell me what you think.
• Daily/Immediate release cycle drastically reduce deployment time due to smaller batch size
• No penalty is releasing MVP early: either you get more customer feedback and promise them a better release, or they actually like the MVP more than the full product (Google search box vs Yahoo portal).
• Manager's role is big corporation is to prevent innovation, and to continue working on proven methods; if you want innovation  you should employ someone with the job title "Entrepreneur" and put them in a subsidiary or something.
• Focus on long-term benefits, as you can't do anything meaningful if you just focus on short-term profits.
• If you are wondering about product-market fit, you don't have it; you launch with the press when you have good results to show (not just fancy product with probably ZERO customers)
• Product is marketing; in a startup, there is no distinction or silos of department