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

Reading is good, action is better.

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

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.

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.

There was a study done in the early 20th century of all the entrepreneurs who entered the automobile industry around the same time as Henry Ford; there were something like 500 automotive companies that got funded, had the internal combustion engine, had the technology, and had the vision. Sixty percent of them folded within a couple of years.

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