Eric Ries of The Lean Startup — guest of the year?

awesome episode… 

Yesterday's show featured Jason's (@Jason) interview with author and startup expert Eric Ries (@ericries) of The Lean Startup. Eric had some excellent advice for entrepreneurs of all levels, from shortening the gestation periods of your ideas into startups to managing those painful, but often necessary, 'pivots.'

If you missed us live, check out the full episode here:

Or you can check out just a few of the many highlights from the show below:

  • 6:55: Eric explains "Minimum Viable Product." Watch:
  • 23 minutes: Jason and Eric explain the key to getting over the "Fear of Feedback." Watch:
  • 57 minutes: Jason calls for a "Startup Spiritual Revival," where audience members bring the trials and tribulations of their business to the stage to be healed by these two experts. Watch:

Want to share this episode with others? Just tweet this: "Lean Startups author @Eric Ries and @Jason are here to solve your startup woes. Watch the latest episode of TWiST at bit.ly/TWiSTLeanStartup

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We'll be back on Tuesday, October 21 with Jason's another live meetup, this time with our fans in Chile! Join us at 4pm PT here: http://thisweekin.com/live to watch and chat along!

Thanks for your viewership and support!
Carolyn, TWiST Producer
@cbedgood

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Eric Ries of The Lean Startup, This Week in Startups #199

0:00-2:00 Hey everyone this is ThisWeekIn Startups, my guest Eric Ries of Lean Startups is here. 
1:00 What is Lean Startups?
2:45 It’s all about addressing the customers needs.
4:10 Talking about the shortening gestation period for new startups. 
6:19: Being lean isn’t about how much money you raise.
6:55: What’s the one piece of advice that makes people so drawn to it? Is it the Minimum Viable Product?
7:00-13:00 Survey Monkey 
14:45 Software VS. Hardware startups.
15:33 The impact of Web 2.0 on startups.
16:30 The ‘Summer of Startups’ which are creating money, which are glorified ponzi schemes?
17:50 It’s so much easier to make money today, with ecommerce. Will we not see a lot of these companies meander, when they make enough money to exist but not to progress?
19:09 All overnight successes had 2 years of failure under their belts. Twitter is an example.
20:00 Jason talks his Twitter past.
22:00 Eric talks network effects.
23:00 The key to getting over the fear of costumer feedback: feedback doesn’t tell you about you, it tells you about them. 
23:49 Haters are the best sources of great feedback, your fans won’t get into details. 
25:20 Feedback is the key, and entrepreneurs are afraid of feedback. 
25:50 Discussion of the ‘Steve Jobs Philosophy.’
29:16 Quality vs. Speed and ‘Avatar Teleportation.’
31:50 Let’s unpack testing.
32:00-36:00 MailChimp
40:10 Discussion of Facebook, World of Warcraft, and Viral Coefficient 
41:30 You left out a couple of ways to build a business. 
42:39 What do you think of Groupon? 
44:49 Eric’s Accounting Revolution
46:17 Greatest entrepreneurship movie of all time, Ghostbusters.
48:10: How do you know when to pivot, or when to perservere? 
51:30 #1 Signal that teams need to pivot
52:35 Early launch is prematurely marketing your own demise. 
53:30: Eric on the indicators of traction
54:30 Democratization of entrepreneurship
56:00 No audience questions, but audience horror stories, and Jason and Eric try and save your companies. Who is struggling in their business, let’s have a revival!
57:00 The startup revival begins. 
60:00 A pivot is a change in strategy, without a change in vision.
61:55 Woosh Traffic; what to do when your expenses match your revenue. 
67:30 Gradebuddy.com; note-taking program for universities. How to get through a pivot, how to get through institutional sales. 
1:12:55 If you can measure it, you can manage it. 
1:13:30 Terry, Stumeroom (Netflix for costumes). What kind of metrics are needed to be used to see where the business will go, how to generate interest?
1:18:30 How to balance between assessment of business, without exposing yourself to being ripped off
1:20:00 Ideas mean nothing, execution is everything
1:21:10 An empty can makes the most noise. Talking about your idea before a consumer can engage is useless. 
1:22:00 Quantifying viral coefficient. 
1:24:00 Is there such a thing as over-iteration?
1:28:06 Jason and Eric break down Mahalo. Youtube Vs. iPad apps, which has better sustainable growth? 
1:32:00 How do you build an organization on an operational basis?
1:35:00 In a startup, rip up your job description. Your job is to do whatever it takes to make the company succeed. 
1:35:00 This has been a great night. Give it up for Eric, let’s all go to Main Street!

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