If You Can’t Out Iterate Someone Who

The Attributes For Entrepreneurs Cut Both Ways. You Need The Ability To Ignore Inconvenient Facts And See The World As It Should Be And Not As It Is. This Inspires People To Take Huge Leaps Of Faith. But This Blindness To Facts Can Be A Liability, Too. The Characteristics That Help Entrepreneurs Succeed Can Also Lead To Their Failure.

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.

Every Startup Has A Chance To Change The World, By Bringing Not Just A New Product, But An Entirely New Institution Into Existence.

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.

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.