Elevator Pitch – How to successfully build a innovative and successful business through thinking through normal business applications but with a focus feedback for better decision making.
Favorite Quotes –
1. New customers come from the actions of past customers.
2. If you cannot fail, you cannot learn.
3. Remember, if we’re building something that nobody wants, it doesn’t much matter if we’re doing it on time and on budget.
4. The problem with most entrepreneurs’ plans is generally not that they don’t follow sound strategic principles but that the facts upon which they are based are wrong.
5. It does not matter how fast we can build. It does not matter how fast we can measure. What matters is how fast we can get through the entire loop.
This book was really good. This is another book for the entrepreneur or the head of a department in charge of product development. The main idea is that you HAVE to have feedback to build the product the right way. Innovation, or product development, is a consistent march of learning, building, and then measuring, repeated at infinitum.The more feedback and more systematically you can develop the product by changing the unit of measurement to the right one, the better your decisions, and the more sustainable your growth.
Eric does a great job of leveraging his experience to give examples of how this looks in the “real world”. If I had a complaint for this book though, it is that it is too long. (almost 300 pages) If you skim the examples, you can get the point, without getting bogged down. (My favorite chapter was on growth, and it is all the way in the back… keep pushing through to get there)