recentpopularlog in

jerryking : lean   30

Makers and Breakers - NYTimes.com
NOV. 8, 2014 | NYT | Thomas L. Friedman.

This is a great time to be a maker, an innovator, a starter-upper. Thanks to the Internet, you can raise capital, sell goods or services and discover collaborators and customers globally more easily than ever. This is a great time to make things. But it is also a great time to break things, thanks to the Internet. If you want to break something or someone, or break into somewhere that is encrypted, and collaborate with other bad guys, you can recruit and operate today with less money, greater ease and greater reach than ever before. This is a great time to be a breaker. That’s why the balance of power between makers and breakers will shape our world every bit as much as the one between America, Russia and China.
Tom_Friedman  entrepreneurship  hackers  Cleveland  innovation  start_ups  immigrants  rogue_actors  supply_chains  globalization  lean  small_business  microproducers  Israeli 
november 2014 by jerryking
The Single Worst Marketing Decision You Can Make
Oct 29 2014 | LinkedIn | Ryan Holiday, Founder, Partner at Brass Check

Make something people want.

—Paul Graham

Growth hackers believe that products—even whole businesses and business models—can and should be changed until they are primed to generate explosive reactions from the first people who see them. In other words, the best marketing decision you can make is to have a product or business that fulfills a real and compelling need for a real and defined group of people—no matter how much tweaking and refining this takes...Some companies like Airbnb and Instragram spend a long time trying new iterations until they achieve what growth hackers call Product Market Fit (PMF); others find it right away. The end goal is the same, however, and it’s to have the product and its customers in perfect sync with each other. Eric Ries, author of The Lean Startup, explains that the best way to get to Product Market Fit is by starting with a “minimum viable product” and improving it based on feedback—as opposed to what most of us do, which is to try to launch publicly with what we think is our final, perfected product...marketers need to contribute to this process. Isolating who your customers are, figuring out their needs, designing a product that will blow their minds—these are marketing decisions, not just development and design choices.

The imperative is clear: stop sitting on your hands and start getting them dirty.
business_models  coding  data_driven  delighting_customers  experimentation  good_enough  growth  growth_hacking  hacks  iterations  lean  marketing  minimum_viable_products  Paul_Graham  product_launches  product-market_fit  Ryan_Holiday  start_ups  visceral 
october 2014 by jerryking
Disruptive entrepreneurs: An interview with Eric Ries
April 2014 | McKinsey & Company |

All of our process diagrams [in major corporations] are linear, boxed diagrams that go one way. But entrepreneurship is fundamentally iterative. So our diagrams need to be in circles. We have to be willing to be wrong and to fail. But modern management says, “Failure means you get dinged.”

For example, one of things I’ve tried to do is to tell companies, “Put on your employees’ performance evaluation a concept we call productive failure: ‘How many productive failures did you have this year?’ If someone comes to you and claims that they didn’t fail this year, you know one of two things: they’re either lying to your face or they were incredibly, unbelievably conservative.”

In both cases, it’s actually not a positive attribute. You want to say, “Show me a time when you failed but learned something really valuable, or were able to pivot from something that didn’t work to something that did.” I have a lot of examples now where it’s possible to say: “You saved the company an incredible amount of money, because instead of spending $10 million on something, we spent $100,000 and did an experiment that proves conclusively there ain’t no business here.”
Eric_Ries  lean  open_data  innovation  experimentation  entrepreneurship  McKinsey  disruption  failure  linearity  iterations  performance_reviews 
april 2014 by jerryking
In Search of the Next Big Thing
May 2013 | HBR | Adi Ignatius interviews Marc Andreessen.

Tries to find CEOs who are product innovators, have bandwidth and discipline to become CEO. It is hard to pair those skills if they do not reside in one person. It is easier to train an innovator to become CEO than to train a CEO to become an innovator. Andreessen is counter-intuitive: he went into venture capital precisely because the prior decade to his launch had been the worst decade in the industry's history. He believes in cycles and so thought that 2009 was a good time to launch Andreessen Horowitz... Take/Understand a long view....Build "fortresses"--a company so big, so powerful , so well defended that it can withstand the pressures of going public. Focus on the substance of what your company is all about. Be about the substance....companies that are built to be independent are the most attractive...generally companies need to have at least two years' worth of cash on the balance sheet in case your revenue goes to zero....takes sales and marketing seriously--lots of products are being sold and you need a way to get the word about your company into the public space...companies are worth investing in (it's value)only if its going to be an innovation factory for years to come....We are in the early phases of Andreessen's "Software is Eating the World" thesis....best of companies AH is looking at today are unbelievably good at analytics. Good at the feedback loop created by analyzing data and feeding those number sback into the process in real time, running a continuous improvement loop....The best founders are artists in their domain. They operate instinctively in their industry because they are in touch with every relevant data point. They‘re able to synthesize in their gut a tremendous amount of data—pulling together technology trends, their companies’ capabilities, their competitor's’ activities, market psychology, every conceivable aspect of how you run a company.
Marc_Andreessen  Andreessen_Horowitz  venture_capital  start_ups  vc  HBR  hedge_funds  SOX  IPOs  lean  analytics  lessons_learned  fingerspitzengefühl  contextual_intelligence  counterintuitive  specificity  long-term  software  virtuous_cycles  software_is_eating_the_world  pairs  skills  founders  product-orientated 
december 2013 by jerryking
Right Questions
New businesses proceed through distinct stages, each requiring a different management approach.Experimentation is only the first step in an extended, multistage process of business development. Each stage
introduces a different set of questions and challenges. (See the exhibit "The Right Questions.").Each stage also demands different talents and perspectives, and new leaders usually have to be brought in as businesses progress. The visionary who is well suited to leading a new business through its early experimental
stages is often poorly equipped to guide the venture through the expansion and integration stages, when sales and organizational skills become more important than bold thinking and creativity. Nor can performance measures remain immutable. Because new businesses are seldom profitable in their early, formative years, financial metrics
make little sense as a starting point for evaluation. Instead, milestones of various sorts-the number of prototypes in customers' hands; the number of times analysts mention a hot, new technology; the number of salespeople bringing in leads-are more useful indicators of early progress. During expansion, measures of market penetration and market share become important; as the business becomes established, traditional financial measures can be
installed.
asking_the_right_questions  start_ups  lean  experimentation  metrics  measurements  questions  new_businesses  Michael_McDerment 
december 2012 by jerryking
The Lean Startup - by Eric Ries | Derek Sivers
Are you making your product better?
They always say yes.
Then I ask: how do you know?
I invariably get this answer: well, we are in engineering and we made a number of changes last month, and our customers seem to like them, and our overall numbers are higher this month. We must be on the right track.
This is the kind of storytelling that takes place at most startup board meetings. Most milestones are built the same way: hit a certain product milestone, maybe talk to a few customers, and see if the numbers go up. Unfortunately, this is not a good indicator of whether a startup is making progress. How do we know that the changes we’ve made are related to the results we’re seeing? More important, how do we know that we are drawing the right lessons from those changes? To answer these kinds of questions, startups have a strong need for a new kind of accounting geared specifically to disruptive innovation.
book_reviews  lean  start_ups  Eric_Ries 
july 2012 by jerryking
Unforeseen consequences - FT.com
May 24, 2007 | Financial Times |By Robert Matthews.

The Germans have a word for it: Schlimmbesserung - literally, a "worse improvement". You may not recognise the word, but you'll know plenty of examples of what it means: efficiency drives that reduce efficiency, cost-cutting measures that prove punitively expensive, software upgrades that cause months of downtime.

All businesses can fall victim to such "revenge effects"....

Edward Tenner, a visiting scholar in the department of history and sociology of science at the University of Pennsylvania and author of Why Things Bite Back, the classic study of the phenomenon first published in 1996, believes there are several measures that businesses can take. Indeed, he has given lectures at Microsoft, Intel and AT&T on the subject.

Ensuring there is in-house expertise that can spot emerging revenge effects and deal with the consequences is crucial, Mr Tenner says. "Many companies fail to deal with revenge effects because they are 'outsourcing their brains'," he says. "Lean organisations are supposed to be more flexible, but they may also be giving up a lot of their capability to respond to change."

According to Mr Tenner, businesses can keep a constant watch for reports of potential revenge effects in news and research findings. This has never been easier, thanks to online tools such as Google news alerts and RSS (really simple syndication) feeds.

Even so, revenge effects have a nasty habit of affecting businesses in unexpected ways. "The precondition of vigilance is the selection and development of ability at all levels,"

thinking about the downside to new developments can save a lot of heartache. "Excessive optimism risks revenge effects," he says. "You have to be prepared to work in Murphy's Law mode - and to consider that every possible thing that can go wrong will go wrong."
unintended_consequences  books  limitations  in-house  specificity  outsourcing  unexpected  revenge_effects  Murphy's_Law  thinking_tragically  lean  adaptability  flexibility  responsiveness  change  downtime 
june 2012 by jerryking
Newt Gingrich wants you to make him run for president
February 5, 2007 | Fortune | Nina Easton.

Has anyone revitalized or created a bright spot in a flat or declining industry?
At the Tempe conference, Gingrich politely listens to such proposals as applying Toyota-style production-control techniques to the health system - and then slices through them with an alternative mantra of competition, deregulation, modernized information systems, and personal responsibility. ...In other words, in Gingrich's world consumer health care should look more like Travelocity...Instead, the Center for Health Transformation offers policy ideas to companies that want to get health-care costs off their backs but oppose government-imposed, universal-health-insurance plans as costly and burdensome. The center's roster of 75 clients is impressive, including insurers Blue Cross & Blue Shield and GE Healthcare, providers like the American Hospital Association, and employers like GM (Charts) and Ford (Charts). Clients pay fees ranging from $10,000 to $200,000 a year....Gingrich's own epiphany about a presidential run dates back three years, when he picked up Harold Holzer's "Lincoln at Cooper Union." The book tells the story of how Lincoln's lengthy 1860 speech in New York City - an intellectually rigorous rebuttal of slavery's legal grounding - wowed the Eastern establishment and transformed a gawky, badly dressed Western politician into a leading presidential candidate. Gingrich saw himself in this story of the underestimated outsider making good, despite the seeming hubris of comparing himself to Lincoln, and it now underpins his unorthodox quest for the presidency...Gingrich also says things like "If you want to shape history, it's useful to actually know history" without a hint of self-consciousness...Of the other Republican contenders for President he says, "We're not in the same business. They are running for the White House. I am trying to change the country."..."My planning horizons are 17 years. I want to give you a sense of scale," he explains, as if helping me focus on his long view of things. "I also do what I think the country needs. I don't operate under personal ambition." ...."There are 3,300 counties, 17,000 elected school boards, 60,000 cities and towns, 14,000 state legislators, 50 governors, and 535 elected federal legislators," he says.
profile  historians  healthcare  lean  books  Six_Sigma  innovation  best_practices  change_agents  long-term  unorthodox  decline  competition  deregulation  information_systems  personal_responsibility  underestimation  outsiders  Abraham_Lincoln  personal_ambition  intellectually_rigorous 
may 2012 by jerryking
Lean Start-Ups Reach Beyond Silicon Valley’s Turf - NYTimes.com
By STEVE LOHR
December 5, 2011

The newer model for starting businesses relies on hypothesis, experiment and testing in the marketplace, from the day a company is founded. That is a sharp break with the traditional approach of drawing up a business plan, setting financial targets, building a finished product and then rolling out the business and hoping to succeed. It was time-consuming and costly.

The preferred formula today is often called the “lean start-up.” Its foremost proponents include Eric Ries, an engineer, entrepreneur and author who coined the term and is now an entrepreneur in residence at the Harvard Business School, and Steven Blank, a serial entrepreneur, author and lecturer at Stanford.

The approach emphasizes quickly developing “minimum viable products,” low-cost versions that are shown to customers for reaction, and then improved. Flexibility is the other hallmark. Test business models and ideas, and ruthlessly cull failures and move on to Plan B, Plan C, Plan D and so on — “pivoting,” as the process is known.
Steve_Lohr  entrepreneurship  start_ups  lean  experimentation  speed  business_models  pivots  minimum_viable_products  testing  Plan_B  culling  flexibility 
december 2011 by jerryking
A New Way to Teach Entrepreneurship – The Lean LaunchPad at Stanford: Class 1 « Steve Blank
A New Way to Teach Entrepreneurship – The Lean LaunchPad at Stanford: Class 1
Posted on March 8, 2011 by steveblank
Junior_Achievement  entrepreneurship  teaching  business_planning  lean 
december 2011 by jerryking
Lean start-up thinking that works for all
Oct. 26, 2010 / FT/ Philip D. Broughton. The classic method is
to look at the mkt. for an opportunity, establish a business case,
develop a product, test, validate & finally launch. At each stage,
you gather resources, establish criteria for the next step and try to
adjust as you go. The challenge, though, is that technology &
customer tastes move so fast that the classic method is
inadequate....Rather than wait until all your ducks in a row, iterate
early & often by finding customers willing to help you refine your
product & even buy it in its most primitive form. Don't waste $ by
investing in an unproven product, but rely on customer feedback to tell
you where to spend. The ideas owe much to "agile software development",
an adaptive process that values customer collaboration, responsiveness
& individual input over strict product road maps, tools & mktg.
plans. For traditionalists, agile development may smack of
ill-discipline, when in fact it is just a different kind of discipline.
ProQuest  Philip_Delves_Broughton  start_ups  lean  experimentation  criteria  iterations  early_adopters  Michael_McDerment 
november 2010 by jerryking
Unboxed - Company Innovators Ask - What Works?
August 14, 2010 | NYTimes.com | By STEVE LOHR.So what does
work in the innovation game? No single formula, to be sure. But some
recent interviews with executives, consultants and academics can be
distilled into three recommendations: think broadly, borrow from the
entrepreneurial Silicon Valley model, and pay close attention to
customers and to emerging user needs.
innovation  Steve_Lohr  Silicon_Valley  lean  growth_hacking 
august 2010 by jerryking
Op-Ed Columnist - Just Doing It - NYTimes.com
April 17, 2010 | New York Times | By THOMAS L. FRIEDMAN.
EndoStim was inspired by Cuban and Indian immigrants to America and
funded by St. Louis venture capitalists. Its prototype is being
manufactured in Uruguay, with the help of Israeli engineers and constant
feedback from doctors in India and Chile. Oh, and the C.E.O. is a South
African, who was educated at the Sorbonne, but lives in Missouri and
California, and his head office is basically a BlackBerry....Chris
Anderson of Wired Magazine pointed this out in a smart essay in
February’s issue, entitled “Atoms Are the New Bits.”
innovation  Tom_Friedman  medical_devices  start_ups  entrepreneurship  Chris_Anderson  Uruguay  venture_capital  vc  immigrants  supply_chains  globalization  lean  small_business  microproducers  cosmopolitan  atoms_&_bits 
april 2010 by jerryking

Copy this bookmark:





to read