THE LEAN STARTUP SUMMARY (BY ERIC RIES)
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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.
Пікірлер: 274
How to start your first business: bit.ly/391czmD
@nathanieljosephgutierrez
5 жыл бұрын
Just do it approach lead us to fail our business venture.
@TheSwedishInvestor
5 жыл бұрын
@@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.
@nathanieljosephgutierrez
5 жыл бұрын
@@TheSwedishInvestor Thank you . What we learn is never stop trying and next time we will apply the lean approach.
@jourdango2615
4 жыл бұрын
How do we include design thinking/ design Sprint's? How do we validate with customers ?
@Snusnu2977
3 жыл бұрын
@@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!
@TheSwedishInvestor
4 жыл бұрын
Awesome, glad that it helped! 😁
@claudiosanhueza9399
2 жыл бұрын
12:55 is gold :D Thanks for the video!
@herdnivke3366
Жыл бұрын
@@claudiosanhueza9399 even funnier when listening at 2x speed. Keep up the great work, Swedish investor!
@AsapPapi
Жыл бұрын
Is it worth reading it or is the Video enough?
@mapleoak3918
Жыл бұрын
@@AsapPapi 😂😂😂😂😂
Thanks for the quick overview. I am still reading the book but this quick summary is extremely helpful.
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
That "Concierge" moment at ~12:52 killed me 🤣! Amazing summary, thanks for making this
@athenasimpson
Жыл бұрын
I just heard that!! I don't get it!!! hahaha
Bro you are great in explaining....really thanks 🙏
@TheSwedishInvestor
5 жыл бұрын
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!
12:54 onwards Concierge consierge ...con f*** sierge 😂 😆 🤣
@kurtthorsten4463
3 жыл бұрын
I remembered to like the video when I heard that lmao
@dunia9334
3 жыл бұрын
😂
@worthyof
3 жыл бұрын
That got me.. lol 🤣
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 ...
Incredible video, thank you. I love the book and this video really summarizes things well. I find myself watching it weekly.
Great summary of the book and great visuals. Very helpful!
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.
The way you explain this books is amazing, great job man
Very helpful, thank you! Wanted a quick overview before I actually read the book!
absolutely insightful, informative and instructive
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
the viral coefficient hits different in 2020
Great complement to the book. Very well summarized.
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.
@BigRomes916
4 жыл бұрын
Same. I finished it today disappointed.
@Fonch117
4 жыл бұрын
@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?
@sarveshyadav01
3 жыл бұрын
@@Fonch117 Dumb... yeah i am dumb.... unable to relate to practical.... maybe because of lack of experiences😕
Cheers man. Rather than trying to explain to people what this book is about I will just point them to this video!
Thank you, finally, for everything the teacher was moaning about makes sense! Thank you once again Mr Investor!
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.
@TheSwedishInvestor
5 жыл бұрын
Heeeey, glad to hear it! 😁 Thank you Benny Lyngdoh!
@goransvraka3171
4 жыл бұрын
You mean you started investing into Bitcoin?
@ben_lyngdoh
4 жыл бұрын
@Goran Svarka, No. Mining for knowledge, not for gold.
@goransvraka3171
4 жыл бұрын
@@ben_lyngdoh I see. I don't just want to read, I want to put it into practice
@ben_lyngdoh
4 жыл бұрын
@@goransvraka3171 I'm doing that right now. All the best with your future endeavours too.
This book sounds very interesting, like how he explain everything with the descriptions. Definitely want to read this book.
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. 😊
Great video, I’ve read the book but this is an awesome refresher!
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. 🇿🇦
Thanks teacher. You’re a cool teacher to lean from.
I really appreciate your effort Mr. Swedish Invester and am very much impressed with the explanation. You did a very good job.👍
Brilliant and concise. Thanks 🙏
Amazing informative summary .. thank you for the effort
Thank you for sharing your knowledge. Very clear video😍
This was excellent, thanks man!
That was a great... Gave a clear picture of the process.
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
very informative and worth for learning.
Having watched over 10 times. Great video!
@TheSwedishInvestor
4 жыл бұрын
Isn't that one of the finest compliments you can get? 😍 Thank you Benson Chaoyue Chen for making my day
I read the first two chapters. Your summary is good.
thank you, i'd love the way you explain it, keep the good work :)
I think it is innovative idea, that differentiate entrepreneurship from traditional business
This video is just amazing!
Wow! Great summary!!!!
I love you man you deserve every dollar in the world
Great overview, tnx man!
Wisdom is in the world, I have been exposed to this brilliant knowledge, thank you.
Great video 👏👍💯. Explained very well
Amazing book. Well explained
Haha I love the guest appearance of Captain Hindsight
I laughed at the concierge pronunciation thing haha. Loved your video. I'm your fan.
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! 😁
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!!
@shankym3423
Жыл бұрын
His total watch time will decrease that way😅
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 ❤❤❤
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!
@TheSwedishInvestor
5 жыл бұрын
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
Really great, thanks!
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.
@TheSwedishInvestor
4 жыл бұрын
That is great to hear man, I appreciate it 😁
Love this explanation!
Love your work man :)
That clear and to the point
Thanks Swedish investor; this is timely and much appreciated.
I love this video. Thank you for adding value to my life. 😊
@TheSwedishInvestor
5 жыл бұрын
Very happy to hear it man! You're welcome, and thank you for your kind words!
Many thanks for making financial culture easier and more useful for us :)
You did very well, I like your work I subscribed, I wrote every word you said as a note of mine
Thank you for saving my time .
@HeyRae
3 жыл бұрын
Time is the most valuable asset!
Show! Parabéns pelo canal!
the bleep at the end earned my Sub!🤣
This video is an art.
Thanks
after finishing the book, gotta say this video is much leaner than the book itself
What a word salad of a concept!
Great Job Mr.Swedish Investor , you are a genius
Amazingly simple and comprehensive summary 👍
very helpful
Great video!
I loved this video :D
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!
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?
thanks!
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.
@TheSwedishInvestor
3 жыл бұрын
Glad to hear that you think the video is valuable to you Ramkrrisna B Poddar!
@oldgold8247
7 ай бұрын
So how did it go?
There are no great ideas, only great execution!!!!
Thanks!
Thank you 🤗❤
Tack så mycket my good man.
The F bomb at 12:53 caught me off guard. 🤣🤣
“Concierge”… &@£&!!”. Loved that one 😂. Thanks a lot for sharing! Regards from Galicia.
תודה!
Good one
My favorite part is @12:53 don't be so hard on yourself haha great video. thank you for the knowledge!
Amazing
Summary: start you idea quickly through hypothesis, test it, measure its success, if it's validated, go ahead, your growth engine are sticky, viral, and paid, pivot your start up if the mvp
i really love the content. and the way you show by image. could you tell me how you made this video (is it powerpoint?)
So good
you have the best channel on youtube!!!
@TheSwedishInvestor
4 жыл бұрын
I'm grateful for your support Lil Moni! Thank you! 🌟
What software do you use for this please? It is amazing!
12:50 "concierge.. concierge.. F#$%.. Concierge." Hahaha thank you for the laugh :)
12:52 the best part
love your content
Have you ever thought of selling or providing a download of your final animation for printout? I think it would be great to keep in a file when I need to refresh my memory on the process.
@iq4kr789
3 жыл бұрын
I know it's a late reply, but you could take screenshots of each segment :)
great video and beautiful content! love it!
@TheSwedishInvestor
5 жыл бұрын
🙌
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
Inspiration information learning resources reflecting cause I have a meeting Sunday night my home as I met a few couple friends and one ask might be interested to join her...thank you for sharing