- 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/TWiSTLeanStartupWe couldn't bring you episodes like today's without our awesome sponsors Surveymonkey and MailChimp! Be sure to thank @MailChimp [http://twitter.com/#!/mailchimp] and @SurveyMonkey [ https://twitter.com/#!/SurveyMonkey ] on Twitter for sponsoring @TWiStartups [http://twitter.com/twistartups ]! 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 [Just hit 'reply' to reach our whole team.] If you're not subscribed in iTunes, it's only a click away!
Subscribe to iTunes audio: http://goo.gl/0SbGu
Subscribe to iTunes video: http://goo.gl/mdcO5 You know that TWIST has the most in-depth coverage of each week's tech news, but do your friends? Forward this email and tell everyone to subscribe at http://thisweekin.com/email -=-=-=-=-=-=
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.
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!