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" There is much that public policy can do to support American entrepreneurs. Health insurance reform will make it easier for entrepreneurs to take a chance on a new business without putting their family's health at risk. Tort reform will make it easier to take prudent risks on new products in a number of sectors. "

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" The attributes for entrepreneurs cut both ways. You need the ability to ignore inconvenient facts and see the world as it should be and not as it is. This inspires people to take huge leaps of faith. But this blindness to facts can be a liability, too. The characteristics that help entrepreneurs succeed can also lead to their failure. "

Eric Ries

People

Failure

World

" Start-up success is not a consequence of good genes or being in the right place at the right time. Success can be engineered by following the right process, which means it can be learned, which means it can be taught. "

" Most companies are busy making their products worse, not better. Updating is almost always a disaster. "

" In my first start-up, I had an initial advertising budget of $5 per day total. That would buy us 100 clicks per day. At $5 per day, marketing people scoffed and said that is too small to matter. But if you think about it, to an engineer, 100 real humans everyday giving your product a try means you can really start improving. "

" If your goal is to make money, becoming an entrepreneur is a sucker's bet. Sure, some entrepreneurs make a lot of money, but if you calculate the amount of stress-inducing work and time it takes and multiply that by the low likelihood of success and eventual payoff, it is not a great way to get rich. "

" I believe for the first time in history, entrepreneurship is now a viable career. "

" It was 1999, and we were building a way for college kids to create online profiles for the purpose of sharing... with employers. Oops. I vividly remember the moment I realized my company was going to fail. My co-founder and I were at our wits' end. By 2001, the dot-com bubble had burst, and we had spent all our money. "

" When it comes to meritocracy and diversity, the symbolic is real. And that means that simple actions that reduce bias, such as blind resume or application screening, are a double win: they reduce implicit bias and they help communicate our commitment to meritocracy. "

" The grim reality is that most start-ups fail. Most new products are not successful. Yet the story of perseverance, creative genius, and hard work persists. "

" Learning to see waste and systematically eliminate it has allowed lean companies such as Toyota to dominate entire industries. Lean thinking defines value as 'providing benefit to the customer'; anything else is waste. "

" Here in Silicon Valley, I have taken part in hundreds of conversations trying to convince people to dive in and become entrepreneurs. All too often, innovators with good, safe, jobs are unwilling to put their family's access to health care at risk by walking away from company-backed medical insurance. "

" The reality is the Lean Startup method is not about cost, it is about speed. Lean startups waste less money, because they use a disciplined approach to testing new products and ideas. "

" Entrepreneurship is not really building a product, it's not having an idea, it's not being in the right place at the right time. It's fundamentally company building. "

" Vanity metrics are the numbers you want to publish on TechCrunch to make your competitors feel bad. "

" Most entrepreneurs don't need as many customers as they think. A lot of people think 10 is too few for a sample. But if all 10 refused a product, why is that not enough? If you want 100, 1,000 or a million customers, you first have to get 10. "

" In the industrial world we have the problem of having more productive capacity than we know what to do with. That's at the root of the unemployment crisis: we've got so productive at making things, we don't require people to be involved in making the basics of life any more. Or nearly as many people. "

Eric Ries

World

People

" I can't say I'm not grateful to have journalists writing about me as a genius. But I know it's not true. I'm not confused. I understand that success comes through a lot of failure and a lot of very embarrassing failure. People want to create the next Facebook, but they are too afraid to create the next Facemash. "

Eric Ries

Failure

People

" When Steve Jobs and Steve Wozniak created Apple computer in a garage in Palo Alto, it heralded the beginning of the PC revolution that ultimately dealt a death-blow to dozens of older companies. "

" HubSpot has used the lean startup method to build a spectacularly successful company. What I particularly love about HubSpot is that they are so geeked out on data analysis and making evidence-based decisions, which are at the heart of the Lean Startup process. "

" Entrepreneurs can't forecast accurately, because they are trying something fundamentally new. So they will often be laughably behind plan - and on the brink of success. "

" At IMVU, the cost of customer acquisition through our five-dollar-a-day AdWords campaign was less than twenty-five cents. Our revenue from those same customers was more than a dollar. "

Eric Ries

Same

Through

" There is no greater country on Earth for entrepreneurship than America. In every category, from the high-tech world of Silicon Valley, where I live, to University R&D labs, to countless Main Street small business owners, Americans are taking risks, embracing new ideas and - most importantly - creating jobs. "

" Prove to yourself that your business, in micro-scale at least, creates value. If you believe it, you'll find it that much easier to convince potential investors, partners and employees, too. "

" Start-ups make so many mistakes that the challenge to identify the root cause of a failure is tough. But believing in your own plan is probably the worst. "

" Science and vision are not opposites or even at odds. They need each other. I sometimes hear other startup folks say something along the lines of: 'If entrepreneurship was a science, then anyone could do it.' I'd like to point out that even science is a science, and still very few people can do it, let alone do it well. "

" A lot of entrepreneurs hate big companies. But if you hate them so much, why are you trying to build a new one? The truth is, as soon as a startup has any kind of success whatsoever, it will face big company problems. "

" We need to reengineer companies to focus on figuring out who the customer is, what's the market and what kind of product you should build. "

" I actually believed if you work hard enough it was inevitable you'd succeed. Then I lived the 'Social Network' movie, but only the first half. The hardest part is the grueling work of constantly being wrong. "

" The problem with entrepreneurship is we are often working really hard producing high quality products that no-one wants. The creation of stuff is not valued. "

" When we're in the shower, when we're thinking about our idea - boy, does it sound brilliant. But the reality is that most of our ideas are actually terrible. "