Book summary: The Lean Startup by Eric Ries
The book consists of the learnings which the author had while working on his startup IMVU. The book focuses on the concept of validated learning and the build-measure-learn feedback loop. It tries to bring in a systematic approach to measuring the progress of a startup. A startup has a true north, its vision. It employs a strategy that includes a business model, a product roadmap, and a view of partners, competitors, and customers. The product is the result of the strategy. Products constantly change ( engine tuning). Strategy changes occasionally ( pivot). Vision rarely changes. In general management, failure to deliver results is caused by failure to plan or failure to execute. Both are frowned upon. But in the modern economy, both are useful tools for testing new ideas.