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I have received many requests to review the book 'The Lean Startup' which was written by Eric Ries'. In response, I'm pleased to offer my expert Reviews, Summary, and Analysis in this article.
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Introduction: The Lean Startup by Eric Ries
About the Author: Eric Ries
Book: The Lean Startup
The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses is a book by Eric Ries describing his proposed lean startup strategy for startup companies. Ries developed the idea for the lean startup from his experiences as a startup advisor, employee, and founder. Wikipedia
- Author: Eric Ries
- Country: United States
- Language: English
- Genre: Business, fiction, Entrepreneurship
- Publisher: Crown Business (USA)
- Publication date: 2011 (USA)
- Media type: Print (hardcover)
- Pages: 336 p. (US hardcover edition)
|The Lean Startup by Eric Ries
Book Summary: The Lean Startup
Excerpts from the original text
1. Adhesive growth engine
2. Viral growth engine
3. Paid growth engine
4. Technical warning
Book Review: The Lean Startup
Reading "The Lean Startup" by Eric Ries
- The value hypothesis measures whether a certain product or service is actually realized when the user uses it.
- The growth hypothesis is used to test how new customers discover a product or service.
- Four questions to think about before doing this:
- Do users agree that the problem you are solving is the problem they are facing?
- If there is a solution to the problem, will the user pay for it?
- Will they buy from us?
- Can we develop a solution to the problem?
- Success is not about realizing a product function. Success is about learning how to solve customer problems.
- Minimize the viable product (minimum viable product). Minimizing viable products is not used to answer product design or technical questions, but to verify basic business assumptions.
- When you want to develop a minimally viable product, you should follow a simple principle: give up all functions, processes, or efforts that are not directly useful for the knowledge you need.
- The company's growth rate mainly depends on three factors: the profitability of a single customer, the cost of acquiring new customers, and the repeat purchase rate of existing users.
- The smoke test gives users the opportunity to book an undeveloped product. The smoke experiment only measures one thing: whether the customer is interested in trying the product.
- Comparative testing is to provide customers with different versions of products at the same time.
- The biggest advantage of working in small batches is the early detection of quality problems.
- With a large number of death spirals, the product may be infinitely delayed, with unlimited functions, and it will never be perfect.
- Sources of growth: New customers are brought about by the behaviors of previous customers.
- Word of mouth
- Derivative effects from product use
- Advertising with funding sources. As long as the cost of acquiring a customer (marginal cost) is lower than the income (marginal revenue) that he brings, the excess can be used to acquire more customers.
- Repeat purchase or use.
- Adhesive growth engine, the rate of acquiring new customers exceeds the churn rate, and the product will grow.
- Viral growth engine, the virus coefficient is greater than 1, and the virus cycle will increase exponentially.
- Paid growth engine: increase the income of each customer and reduce the cost of acquiring new customers.
- Five Why break the casserole and ask in the end. The true cause of the problem is often obscured by other more obvious manifestations. Use the five why you need to follow the rules: tolerate the first mistake; don't allow the same mistake to happen twice.
- The more outrageous the suggestions made, the closer the compromised direction may be to what they want.
- Vanity indicators, show the best scene, not the actual situation.
- Executable indicators, which measure the actual situation.