Progress in manufacturing is measured by the production of high quality goods. The unit of progress for Lean Startups is validated learning-a rigorous method for demonstrating progress when one is embedded in the soil of extreme uncertainty.

The minimum viable product is that version of a new product which allows a team to collect the maximum amount of validated learning about customers with the least effort.

Using the Lean Startup approach, companies can create order not chaos by providing tools to test a vision continuously.

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.

Most phenomenal startup teams create businesses that ultimately fail. Why? They built something that nobody wanted.

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.

New Customers come from the action of past customers