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" There's nothing wrong with raising venture capital. Many lean startups are ambitious and are able to deploy large amounts of capital. What differentiates them is their disciplined approach to determining when to spend money: after the fundamental elements of the business model have been empirically validated. "

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" When I meet with most entrepreneurial teams, I ask them a simple question: How do you know that you're making progress? Most of them really can't answer that question. "

Eric Ries

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" The mistake isn't releasing something bad. The mistake is to launch it and get PR people involved. You don't want people to start amping up expectations for an early version of your product. The best entrepreneurship happens in low-stakes environments where no one is paying attention, like Mark Zuckerberg's dorm room at Harvard. "

" 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. "

" Building the right product requires systematically and relentlessly testing that vision to discover which elements of it are brilliant, and which are crazy. "

" 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. "

" 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. "

" I would say, as an entrepreneur everything you do - every action you take in product development, in marketing, every conversation you have, everything you do - is an experiment. If you can conceptualize your work not as building features, not as launching campaigns, but as running experiments, you can get radically more done with less effort. "

" The United States is locked in a new arms race for that most precious resource - the future entrepreneurs upon whom economic growth depends. Substantial research shows that immigrants play a key role in American job creation. "

" 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. "

" 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. "

" You know how people always talk about how vision is the key to entrepreneurship and perseverance and really seeing what other people don't see? We can actually redeem a fair amount of that folk wisdom. "

" 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 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" Our educational system is not preparing people for the 21st Century. Failure is an essential part of entrepreneurship. If you work hard, you can get an 'A' pretty much guaranteed, but in entrepreneurship, that's not how it works. "

" 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. "

" It doesn't matter if you call it a boom or a bubble. The startup business moves in cycles, and what goes up will eventually come down. "

" You get a culture of entrepreneurship after you have successfully changed the accountability system so that people can use a better process. Process drives culture, not the other way around, so you can't just change the culture, you have to change the system. "

" 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. "

" 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. "

" 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

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