In this 45 second PAREable, learn what new insights Eric has came across since his book was released back in 2011.
- If you do things with a scientific approach, it’s always better than if you do things ad hoc.
- If you want to have continuous innovation, you have to be able to find new product-market fit over and over again.
- Leader of a modern company needs to be able to speak to all four groups of people (ops, core, new and experimental). Communicate a common message and culture value without alienating a single group.
- Include productive failure in metric review. Productive failure is either you learned something valuable and pivot into success. Or, you learned something that was a waste and eliminated.
- Entrepreneuriship is fundamentally a type of management. It’s about team building, team organization and growth.
- The reason it is hard for a successful company to build startup within is because of the difference of requirements for a developed idea compare to startup ideas.
- Entrepreneurship is a separate function, like sales, engineering, marketing and design.
- 4 type of work within a modern company: operational infrastructure, post market-product fit core optimization, new strategic initiatives, and experimental R&D. First has no tolerance of failure. Second avoids failure. Third learns from failure. Fourth experiments and produces failure.
- Business common sense can both hurt and help startups. It depends on your goal and your conviction of why you started this startup.
- The Lean Startup mindset is just as powerful as the process and technique. It’s a powerful way to approach any problems.
- Drive change into an organization: accountability (validated learning) -> process -> culture -> people.
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Until the next PAREable..