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🚀 The Book in 3 Sentences
- Building a system / process is more important than getting results;
- Being lean in building a startup gives you advantages and lower your costs;
- Getting to customers as soon as possible, although it is the scariest thing to do.
☘️ How the Book Changed Me
- I really wish I could have applied what I learnt from this book in real startup life.
✍️ Top Quotes From the Book
- The business and marketing functions of a startup should be considered as important as engineering and product development and therefore deserve an equally rigorous methodology to guide them.
- 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.
- Yet if the fundamental goal of entrepreneurship is to engage in organization building under conditions of extreme uncertainty, its most vital function is learning.
- This is true startup productivity: systematically figuring out the right things to build.
- For startups, the role of strategy is to help figure out the right questions to ask.
- Early adopters use their imagination to fill in what a product is missing.
- As you consider building your own minimum viable product, let this simple rule suffice: remove any feature, process, or effort that does not contribute directly to the learning you seek.
- The rate of growth depends primarily on three things: the profitability of each customer, the cost of acquiring new customers, and the repeat purchase rate of existing customers.
- Companies of any size that have a working engine of growth can come to rely on the wrong kind of metrics to guide their actions.
- Most important, teams working in this system begin to measure their productivity according to validated learning, not in terms of the production of new features.
- Startup productivity is not about cranking out more widgets or features. It is about aligning our efforts with a business and product that are working to create value and drive growth.