Top 10 Ways Entrepreneurs Pivot a Lean Startup

In The Lean Startup, Eric Ries discusses the importance of making required course corrections (pivots) to dramatically improve the odds for success. These pivots come in many different flavors, each designed to test the viability of a different hypothesis about the product, business model, and engine of growth. Here is a summary of the top ten types of pivots to consider.

The Lean Startup – Visual Summary

A visual summary of The Lean Startup by Eric Reis.

“Spark Notes*” for Eric Ries’ Lean Startup

Before he joined on as an Entrepreneur-in-Residence at the Kaplan EdTech Accelerator, Jake Simms decided that it would be a good idea to reacquaint himself with Eric Ries’ The Lean Startup methodology. Here is his “spark notes” version.

How to Create Your Lean Canvas

Business plans take too long to write, are seldom updated, and almost never read by others but documenting your hypotheses is key. Lean Canvas solves this problem using a 1-page business model that takes under 20 minutes to create.

Paul Graham on Building Companies for Fast Growth

Graham’s tech accelerator, Y Combinator, has minted many big hits, including Dropbox, Reddit, and Airbnb. Here’s a conversation with the start-up guru.

100 Great Questions Every Entrepreneur Should Ask

Paul Graham, Jim Collins, Tony Hsieh, and other business leaders share the questions you should be asking if you want to improve your company.

Editor’s Note: for more insightful business questions, check out another site I run, mgmtquestions.com

Go It Alone!

Today, the conventional wisdom about how to start a substantial business is just plain wrong. Now, you don’t need to raise a lot of money first, you don’t need a team of employees, and you don’t need limitless financial resources. This book details how in today’s business environment it is easier, and more possible, than ever to build a significant business on your own with … [ Read more ]

That’ll Never Work: Six Important Lessons from Successful Entrepreneurs

In the first few months of a business, an entrepreneur is likely to face challenges that, if not managed properly, may well sabotage the new venture. Imagine the confidence of that entrepreneur, however, if he or she could have the advice of others who have already met those challenges on the road to their own success. Readers and would-be entrepreneurs will find that advice in … [ Read more ]

How Startup Founders Can Stay on the Right Side of the Law

In the passionate rush it takes to get a startup to market, legal issues can often be overlooked. Here are some things to consider if you want to optimize the trajectory of your startup.

Peter Drucker

Above all, we know that an entrepreneurial strategy has more chance of success the more it starts with the users—their utilities, their values, their realities […] the test of an innovation is always what it does for the user […] it is by no means hunch or gamble. But it is also not precisely science. Rather, it is judgment.

Top 17 Startup Mistakes You Can’t Afford to Make

A seasoned entrepreneur reveals the 17 most common mistakes startups make – and how you can avoid them.

Ten Secret Elements of the Entrepreneur Experience

The dominant entrepreneurship narrative is still the lone individual with the brilliant idea who, against tremendous odds, makes it big. The founder myth focuses on and bestows celebrity status on a relatively small set of highly successful, rich, predominantly male, technology-focused entrepreneurs. However, the majority of entrepreneurs fall outside this narrative. At the Babson Entrepreneur Experience Lab we have studied over 250 entrepreneurs launching ventures … [ Read more ]

Peter Senge

There’s an element […] that is completely disregarded in formal management education. We’re supposed to figure things out. We’re supposed to make the machine work and correct problems when they come up. But, in fact, in creating something, a lot of the most important developments are what you didn’t expect. And it’s how you recognize and deal with surprise. It’s a very different mindset. The … [ Read more ]

Learning to Think Like an Entrepreneurial Leader

This article introduces cognitive ambidexterity, the way of thinking and acting that underlies entrepreneurial leadership. Cognitive ambidexterity presumes two different approaches to thought and action: prediction logic and creation logic. To be an effective entrepreneurial leader, one must be skilled in both prediction and creation logics and be able to cycle between them.

Alan Kay

First of all, you need to fund the people, not the projects. You need both a dream and a vision without breaking the vision down into goals or missions. This, of course, is antithetical to business. Business rationale thinks problem solving is a good rubric and a metaphor for what they’re trying to do. Articulating goals actually stifles innovation.

The 2 Games Every Startup Plays

Success at a startup means winning in the air and on the ground. Being a visionary isn’t enough. You also need to nail the day-to-day operations.

Will Foursquare CEO Dennis Crowley Finally Get It Right?

After 10 years, eight South by Southwests, two startups, and zero dollars in profit, will Foursquare CEO Dennis Crowley ever find his way?

Charles Handy

In new businesses, the start-up group—which may be 10, 20, 50 people—has a psychological stake and often a financial stake in the business. These people use what I describe as the twin hierarchy approach. That is, there is the hierarchy of status—though not more than three or four levels. You find this in professional organizations, with senior partners, ordinary partners, and associates who would like … [ Read more ]