Most Important Concepts:

• The goal of a startup is to figure out the right thing to build - the thing customers want and will pay for - as quickly as possible.
• Contrary to our intuition, producing things 1 at a time is often faster than producing in large batches.

How I Can Use This Info:

• Test every assumption.

Chapter Recap:

Introduction

• Don’t shoot in the dark, validate and adjust.

Part 1: Vision

1 - Start

• The goal of a startup is to figure out the right thing to build - the thing customers want and will pay for - as quickly as possible.
• Instead of making complex plans that are based on a lot of assumptions, you can make constant adjustments with a steering wheel called the ’build-measure-learn’ feedback loop.

2 - Define

• Cultivating entrepreneurship is the responsibility of senior management.
• A company’s only sustainable path to long-term economic growth is to build an ”innovation factory.”
• Move leaders from playing Caesar with their thumbs up and down on every idea - to instead - put in the culture and the systems so that teams can move and innovate at the speed of the experimentation system.

3 - Learn

• Learning what your customers want is the essential unit of progress for startups.
• The effort that is not absolutely necessary for learning what customers want can be eliminated.

4 - Experiment