A Start Up is an institution designed to thrive in the soil of extreme uncertainty

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.

In a startup, both the problem and solution are unknown.

As an entrepreneur, I knew that if my company failed, I could always try again. So I often felt that the only real risk of true financial ruin came from the possibility of a serious illness that either exceeded my insurance plans lifetime limits, or was not covered due to rescission.

Meritocracy is a good thing. Whenever possibly, people should be judged based on their work and results, not superficial qualities.

The Lean Startup has evolved into a movement that is having a significant impact on how companies are built, funded and scaled.

The goal of a startup is to figure out the right thing to build-the thing customers want and will pay for-as quickly as possible. In other words, the Lean Startup is a new way of looking at the development of innovative new products that emphasizes fast iteration and customer insight, a huge vision, and great ambition, all at the same time.