This is an in-depth, chapter-by-chapter summary of Eric Ries’s best-selling book The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. In this summary, Ries presents a practical and insightful approach to building products and launching startups. Based on his experience as an entrepreneur and drawing concepts from lean manufacturing and other disciplines, Ries has created a framework for systematic innovation to maximize the chances of startup success.
In this summary:
- Introduction: 5 principles of the lean startup method.
- Chapter 1 – Start: Why companies fail; understanding vision, strategy and product.
- Chapter 2 – Define: The true definition of a “startup”; lessons on innovation from SnapTax and Intuit.
- Chapter 3 – Learn: Lessons from IMVU’s mistakes; validated learning, scientific testing and reducing waste.
- Chapter 4 – Experiment: 4 reasons experiments are better than research; value and growth hypotheses; how to run an experiment.
- Chapter 5 – Leap: Leap of faith assumptions; genchi genbutsu; customer archetypes.
- Chapter 6 – Test: Minimum viable product (MVP); 4 fears of MVPs.
- Chapter 7 – Measure: The 3 A’s, 3 steps and 3 tools of innovation accounting; actionable metrics.
- Chapter 8 – Pivot (or Persevere) When to pivot; 5 points about pivots; 10 types of pivots.
- Chapter 9 – Batch: Single piece flow; benefits of small batches; continuous deployment; the andon cord; “pull” hypotheses.
- Chapter 10 – Grow 4 types of sustainable growth; 3 engines of growth; quantifying product / market fit.
- Chapter 11 -Adapt Adaptive organizations; the 5 whys; proportional investments.
- Chapter 12 – Innovate Portfolio thinking; startups within an organization; the innovation sandbox.
Estimated reading time: 40 minutes
Original Book: 5:05 hours
You Save: 4:25 hours
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