Lean startup analysis

Here are some notes I took on the Lean startup by Eric Ries

I studied lean manufacturing, a process that originated in Japan with the Toyota Production System, a completely new way of thinking about the manufacturing of physical goods

• I found it very interesting to know that this is the origin of this groundbreaking method.  I now see how it can be applied to many other types of industries.

my definition of a startup: a human institution designed to create new products and services under conditions of extreme uncertainty.

Startups exist not just to make stuff, make money, or even serve customers. They exist to learn how to build a sustainable business.

Building block of lean startup - Build-Measure-Learn. The fundamental activity of a startup is to turn ideas into products, measure how customers respond, and then learn whether to pivot or persevere. All successful startup processes should be geared to accelerate that feedback loop.

Innovation accounting. To improve entrepreneurial outcomes and hold innovators  accountable, we need to focus on the boring stuff how to measure progress, how to set up milestones, and how to prioritize work. This requires a new kind of accounting designed for startups—and the people who hold them accountable.

• This was one of our biggest struggles as a group .  We wanted to hold each other accountable for certain activities without seeming annoying or overbearing. This was especially with our tech dept. We didn't want to rush them because  we didnt know enough about computers to hold them to a timeline.