New Venture Tips

In the lean startup talk, Eric Ries discusses principles in his new book on entrepreneurship. These five principles are entrepreneurship is everywhere, entrepreneurship is management, validated learning, build-measure-learn (a feedback loop) and accountable entrepreneurs. However, most of the startup talk is focused on management and accounting.

While entrepreneurship and startup businesses are a hot topic and made to seem extremely interesting in Hollywood films like 'The Social Network,' Ries believes society needs to move away from this line of thinking. While the results of a startup and changing the world are undoubtedly thrilling concepts, the process to get their and the difficult decisions made are boring, according to the speaker.

Ries defines a startup as a human institution designed to produce something new under conditions of extreme uncertainty. It is an experiment, not to see if something can be built, but if it should be. From there, many startup businesses are in actuality, an enormous waste of time.