The Lean Startup

How to Make People Like You

About the Book

The world-famous book ''The Lean StartUp: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses'' was written by great author ''Eric Ries''. This book tells us about the deep knowledge and key points to Start new business. The total number of pages in this book is 356.

Review of The Book


Hello guys, I hope you're doing absolutely fine. Today I'm gonna tell you about some business StartUp secrets to make any StartUp business successful.

There is one misconception in everyone's mind about the StartUp that is to make any successful business, ''you need any big idea'', an idea which you follow, so that will make a billionaire one day like the Facebook idea of Mark Zuckerberg but the reality is, this billionaire idea is just a myth.

And also before Facebook Mark Zuckerberg made one more website which name was HotorNot, usually 95% of the first idea does not give success but the modification or replacement of that idea results in success.

The StartUp is not working on a brilliant idea and becoming an overnight success while StartUp is handling of extreme uncertainty.

A StartUp like an experiment where you have to test and learn continuously to get the desired results.

Now the main question is, why do most of the StartUp fail?

Story- The Co-founder of Crazyegg company Neil Patel who is an entrepreneur or successful marker of the USA, one time he took a fund of million-dollar from the market to execute his StartUp plan and investors also liked his idea.

The idea was to make a software which can solve the social media traffic of the company and his team invested 1 Million dollars and 1 year to execute that idea.

And after 1 year, they launched their software in the market.

But after launching software nobody took the interest to buy their product because other companies did not need to invest in new software, they liked doing work as they were doing before.

Neil Patel and their team wasted a whole year, one million dollars, and a lot of energy in creating a product that nobody wanted.

That was the main reason for getting failed many StartUp because they work on making a product which they like but they don't think that others will like or not their product.
How to Make People Like You

Before making any product the question shouldn't be you can build a product or not while the question should be why should you make that product.

Conventional Management

Many businesses get failed because they work on Conventional Management, they do market research => Make a strategy => Deliver a great product.

This approach is good but not for StartUp because to assume the market is not possible without launching the product.
A startUp cannot assume the response of the people until people use their product.

These all can be the reason for failing StartUp but the good thing is that these failures can be avoided by Lean StartUp Methodology.

This concept is based on Build > Measure > Learn 

According to this principle, you should make a viable product then launch that product and measure the response & the reaction of the customers, and at the end learn that your ideas are working properly or you should change something.

You should repeat this cycle until you want your desired result and response from the customer.
How to Make People Like You

In simple words MVP (Minimum Viable Product) should have two or three key points of your product which you will attract customers then use minimum money to make it.

After making measure whether the key points are getting the desired response or not.

and also remember this MVP (Minimum Viable Product) is not your final product, you're just making to test.
How to Make People Like You
After measuring the response of the customer, you would have two options 1. PIVOT & 2. PERSEVERE

If your key assumptions are having positive feedback, so you should PERSEVERE, means work on that idea, and improve the product with the same idea while your key assumptions are having negative feedback, so you should PIVOT, means change your idea and make changes to get the desired result.

Ex. Mike Krieger made one application, named was Burbn, in that application there were some elements of Mafia Wars game and one camera was also in that application.

Mike Krieger was worried because Burbn was not getting the desired response, Application was fully filled with the feature, that's why Burbn was not easy to use.

After researching Mike Krieger found the one feature is most useable from the Burbn application that was the camera.

After seeing that Mike Krieger took a big decision with his co-founders and removed all features from Burbn instead of a camera.

After pivoting this Burbn became famous application and this application is known as Instagram these days.

Sometimes a pivot is what is needed for success.How to Make People Like You

Before starting up any business you should remember one thing, ''how many pivots can you handle before running out of cash'' and also you cannot succeed by creating something nobody wants.
 
 
Quotes By Eric Ries