Masters of Scale Build. Measure. Learn, w/Eric Ries of The Lean Startup and the LTSE
7 snips
Jun 16, 2020 Eric Ries challenges the traditional business plan, advocating for an experimental approach to product development. He shares insights from his own failures and emphasizes the importance of rapid testing and measuring success through data. The podcast explores innovative practices from aviation that mirror modern entrepreneurship, underscoring the art of pivoting and iteration. Additionally, Ries discusses the Long-Term Stock Exchange and its mission to support sustainable business practices by fostering long-term investor relationships.
AI Snips
Chapters
Books
Transcript
Episode notes
IMVU's Initial Failure
- Eric Ries's first startup, IMVU, initially failed because customers didn't want 3D avatars for existing social media.
- They pivoted to a standalone social network after usability tests revealed this.
Learning from Failure
- The failure of IMVU's initial product taught Eric Ries the importance of testing assumptions early.
- This led him to develop the Lean Startup methodology.
Minimum Viable Product
- Release a minimum viable product (MVP) to gather user feedback early.
- Iterate based on this feedback rather than perfecting a product nobody wants.
