THE LEAN STARTUP SUMMARY (BY ERIC RIES)
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- Опубліковано 19 чер 2024
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Lean Startup is an approach that every aspiring entrepreneur should know about. In this video, I’ll present the 5 best takeaways (in my opinion) from the book that happens to have the same name - The Lean Startup, by Eric Ries.
How to start your first business: bit.ly/391czmD
Top 5 takeaways from The Lean Startup:
0:00 Intro
01:12 1. The Build-Measure-Learn Feedback Loop
03:28 2. Everything is a Grand Experiment
05:21 3. Different Types of Mvps
07:24 4. The Three Engines of Growth
10:04 5. Pivot or Persevere?
TL;DW:
- The goal of a startup is to figure out the right thing to build - that customers want and will pay for - as quickly as possible
- To confirm or reject your hypothesis, experiments must be run to gain validated learning about potential customers. An MVP usually forms the basis of such experiments.
- Three popular types of MVPs are: Video, concierge (cut) and the wizard of Oz
- Every startup should focus on an engine of growth - either the sticky, the viral or the paid one
- Successful entrepreneurship is about perseverance and flexibility at the same time. Pivoting an idea does not equal failure, in fact, almost every successful startup has done a major change to its strategy at some point.
My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there - investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties - I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process - upgrading your money-making toolbox.
How to start your first business: bit.ly/391czmD
Just do it approach lead us to fail our business venture.
@@nathanieljosephgutierrez Sorry to hear that man. Even though it's probably cold comfort for you now, that experience could be what makes you succeed in your next project.
@@TheSwedishInvestor Thank you . What we learn is never stop trying and next time we will apply the lean approach.
How do we include design thinking/ design Sprint's? How do we validate with customers ?
@@TheSwedishInvestor can you explain video MVP and wizard of Oz MVP
After reading the complete book which took me more than 20 days, this is the much-needed video that I could have asked for!
Awesome, glad that it helped! 😁
12:55 is gold :D Thanks for the video!
@@claudiosanhueza9399 even funnier when listening at 2x speed. Keep up the great work, Swedish investor!
Is it worth reading it or is the Video enough?
@@AsapPapi 😂😂😂😂😂
That "Concierge" moment at ~12:52 killed me 🤣! Amazing summary, thanks for making this
I just heard that!! I don't get it!!! hahaha
Thanks for the quick overview. I am still reading the book but this quick summary is extremely helpful.
Bro you are great in explaining....really thanks 🙏
Thank you Peter! I'm happy to hear it 😁
What a great visualization of the lean startup! I recommend that book more than any to people!
Okay you caught me, These videos are all I watch when I say I like books. Hihihi😂
I make notes tho. I love your videos brother. Really breaks things down for me.
I've read the book once.
I didn't understand much, so i started mining the internet.
And till date this is the best concise summary. Good job.
Heeeey, glad to hear it! 😁 Thank you Benny Lyngdoh!
You mean you started investing into Bitcoin?
@Goran Svarka, No.
Mining for knowledge, not for gold.
@@ben_lyngdoh I see. I don't just want to read, I want to put it into practice
@@goransvraka3171 I'm doing that right now.
All the best with your future endeavours too.
Incredible video, thank you. I love the book and this video really summarizes things well. I find myself watching it weekly.
You have a gift for explaining things. Awesome video. Look forward to more.
Great work .... your def a champ in explaining things simple and lean ...
The way you explain this books is amazing, great job man
Great summary of the book and great visuals. Very helpful!
Very helpful, thank you! Wanted a quick overview before I actually read the book!
Cheers man. Rather than trying to explain to people what this book is about I will just point them to this video!
Startup always struggle in the early stage but with a great strategies and dedication they make it as we have learnt from many startups here in Canada
Thank you, finally, for everything the teacher was moaning about makes sense! Thank you once again Mr Investor!
Great complement to the book. Very well summarized.
absolutely insightful, informative and instructive
I really appreciate your effort Mr. Swedish Invester and am very much impressed with the explanation.
You did a very good job.👍
This book sounds very interesting, like how he explain everything with the descriptions. Definitely want to read this book.
I didn't really get the book, so in the middle of rereading it while browsing youtube for a podcast about the book and found your video which is awesome.
Same. I finished it today disappointed.
@The Loner Millionaire I honestly don't understand why people are saying that they didn't "get the book". lol What was it written poorly because if it had this information in it then I don't see what's not to get. Are they just dumb/lazy or something?
@@Fonch117 Dumb... yeah i am dumb.... unable to relate to practical.... maybe because of lack of experiences😕
12:54 onwards Concierge consierge ...con f*** sierge 😂 😆 🤣
I remembered to like the video when I heard that lmao
😂
That got me.. lol 🤣
the viral coefficient hits different in 2020
Thanks teacher.
You’re a cool teacher to lean from.
Superb Summary, Keep it up!
Wisdom is in the world, I have been exposed to this brilliant knowledge, thank you.
Great video, I’ve read the book but this is an awesome refresher!
Try to read tugs book last 3 days, but couldn’t understand at all, but when i saw this video everything is make sense now..so good explanation ❤❤❤
I love you man you deserve every dollar in the world
Amazing informative summary .. thank you for the effort
Thank you for sharing your knowledge. Very clear video😍
That was a great... Gave a clear picture of the process.
This video is just amazing!
Thank you for this wonderful video
0:00 Introduction
0:59 1. The Build-Measure-Learn Feedback Loop
3:27 2. Everything is a Grand Experiment
5:20 3. Different Types of MVPs (Minimum Value Product)
7:15 4. The 3 Engines of Growth
10:04 5. Pivot or Persevere?
12:25 6. Summary
I think it is innovative idea, that differentiate entrepreneurship from traditional business
Brilliant and concise. Thanks 🙏
I read the first two chapters. Your summary is good.
Thanks Swedish investor; this is timely and much appreciated.
This was excellent, thanks man!
Amazing book. Well explained
Having watched over 10 times. Great video!
Isn't that one of the finest compliments you can get? 😍 Thank you Benson Chaoyue Chen for making my day
very informative and worth for learning.
Thank you very much for this summary. A picture is worth a thousand words. With the 5 steps that you have listed I understood the book quite well after reading it.
That is great to hear man, I appreciate it 😁
Wow! Great summary!!!!
Hello, The Swedish Investor. I really love your content, these takeaway cards are super useful! I always try to screenshot each card when you zoom out at the end. Could you please either give a complete zoomed out view after each takeaway card or link to a summary page? I'll be hugely grateful. Keep up the good work!!
His total watch time will decrease that way😅
Great video 👏👍💯. Explained very well
0:00 Introduction
0:59 1. The Build-Measure-Learn Feedback Loop
3:27 2. Everything is a Grand Experiment
5:20 3. Different Types of MVPs (Minimum Value Product)
7:15 4. The 3 Engines of Growth
10:04 5. Pivot or Persevere?
12:25 Summary
This video is an art.
thank you, i'd love the way you explain it, keep the good work :)
Great video! I like the mix of investing and entrepreneurship stuff. Feels like there are many similarities between the two areas that could be worth learning more about. Heja Sverige!
Glad you liked it bro 😁 Yes, definitely many similarities, especially if you specialize in angel investments! I might make more of them in the future, enjoyed reading this one
I subscribed immediately when I heard you butcher the word concierge 😂 I love and respect the oasis of wisdom that is your channel. ✊🏾 I give thanks and many blessings. 🇿🇦
Haha I love the guest appearance of Captain Hindsight
I like your joke that you will bet your RIGHT arm, when you are actually LEFT handed 😝😂😛
Love your content and already subscribed! 😍
Blessings from Taiwan! 😁
Love this explanation!
Great overview, tnx man!
I laughed at the concierge pronunciation thing haha. Loved your video. I'm your fan.
Great Job Mr.Swedish Investor , you are a genius
Many thanks for making financial culture easier and more useful for us :)
Show! Parabéns pelo canal!
Really great, thanks!
Thank you for saving my time .
Time is the most valuable asset!
I love this video. Thank you for adding value to my life. 😊
Very happy to hear it man! You're welcome, and thank you for your kind words!
Tack så mycket my good man.
after finishing the book, gotta say this video is much leaner than the book itself
Love your work man :)
Amazingly simple and comprehensive summary 👍
That clear and to the point
What a word salad of a concept!
Thank you for this excellent summary video. I'm interested in knowing what your point of view is about building an audience before learning/building/measuring? Tack!
I am looking forward to form a startup and came across The Lean Startup Summary. I did not want to read the entire book and started internet mining. This video explains so well and very helpful. Amazing job The Swedish Investor. Thanks for this video. I now will re-figure many things before I jump into the market.
Glad to hear that you think the video is valuable to you Ramkrrisna B Poddar!
So how did it go?
You did very well, I like your work I subscribed, I wrote every word you said as a note of mine
Great video!
the bleep at the end earned my Sub!🤣
There are no great ideas, only great execution!!!!
I loved this video :D
Applaud your presentations! I’ve been in food industry wish I could come up with interesting content within my area of expertise to demonstrate it with that secret sauce to do what you’re doing. Any ideas?
Thank you 🤗❤
you have the best channel on youtube!!!
I'm grateful for your support Lil Moni! Thank you! 🌟
Good one
Thanks!
very helpful
So good
“Concierge”… &@£&!!”. Loved that one 😂. Thanks a lot for sharing! Regards from Galicia.
thanks!
A few quotes I extracted from "Zero to One" by Peter Thiel:
Brilliant thinking is rare, but courage is in even shorter supply than genius.
Vertical or intensive progress means doing new things - going from zero to one.
There is no reason why technology should be limited to computers. Properly understood, any new and better way of doing things is technology.
It is hard to develop new things in big organizations... Bureaucratic hierarchies move slowly and entrenched interests shy away from risk.
Madness is rare in individuals - but in groups, parties and nations it is the rule. Nietzsche
The first step to thinking clearly is to question what we think we know about the past.
A bad plan is better than no plan.
Every culture has a myth of decline from some golden age, and almost all peoples throughout history have been pessimists.
Every great entrepreneur is first and foremost a designer.
Long-term planning is often undervalued by our indefinite short-term world.
Every great business is built around a secret that’s hidden from the outside. A great company is a conspiracy to change the world.
Recruiting is a core competency for any company. It should never be outsourced.
You need people who are not just skilled on paper but who will work together cohesively after they are hired.
Even though sales is everywhere, most people underrate its importance… Poor sales rather than bad product is the most common cause of business failure…
Everybody has a product to sell. Look around. If you don’t see any salespeople, you are the salesperson.
As mature industries stagnate, information technology has advanced so rapidly that it has now become synonymous with “technology” itself.
The computers are complements for the humans, not substitutes.
Recruiting employees is part detective work and part sales.
Winning is better than losing, but everybody loses when the war isn’t one worth fighting.
It is hard to blame the people for dancing when the music is playing. 😊
Thanks
Amazing
My favorite part is @12:53 don't be so hard on yourself haha great video. thank you for the knowledge!
תודה!
Keep it up Erik.😍
Thank you Mark! Love the support!
Awesomeness
Haven't read the book yet, and I don't understand much of what you said in the summary. I wish for a video with tons of examples... something a person could do tomorrow for example
The F bomb at 12:53 caught me off guard. 🤣🤣
great video and beautiful content! love it!
🙌
What software do you use for this please? It is amazing!
i really love the content. and the way you show by image. could you tell me how you made this video (is it powerpoint?)
Awesome
ideas are great i worked on a business idea and search to perfect it for 2 years.. i had the money but not enough to do it on my own so my friend said do you have any business idea we can start it cuz he had lot of businesses running. we discuss my idea and i explain him for a month so he can trust my homework and we can invest 50 50 on this venture. he liked my idea so much that he kicked me out go solo and making big money. now year and half im still waiting to start it but always problems come and my savings blow away ...
love your content