Leadership requires creating conditions that enable employees to do the kinds of experimentation that entrepreneurship requires.

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.

A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty.

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.

Because startups often accidentally build something nobody wants, it doesn’t matter much if they do it on time and on budget. 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.

A pivot is a change in strategy without a change in vision.

The only way to win is to learn faster than anyone else.