„The Lean Startup” - Eric Ries

Eric Ries develops the concept of Lean Startup, which is based on the principles of iterative learning, critical thinking and efficient use of resources. Although it is a practical handbook, it is recognized in the academic world and beyond for its deep insights into critical thinking and the application of scientific methods in product development and business building.

„The Lean Startup” by Eric Ries offers concrete methods on how entrepreneurs and peer learners can build startups efficiently and effectively by applying the principles of lean thinking to the management of innovation. Here are key insights and extensions of the concept:

1. Build-Measure-Learn Loop: Ries introduces the iterative process of Build-Measure-Learn, which aims to quickly turn ideas into products, measure customer reactions and then learn whether an idea should be modified or discarded. This promotes rapid learning through short development cycles.
   
   
2. Minimum Viable Product (MVP): A central concept in Lean Startup is the Minimum Viable Product. This is the simplest version of a product that can be developed in order to achieve the maximum learning about customer needs with the least effort. For entrepreneurs and peer learners, this means focusing on the core offering and avoiding investing resources in unverified aspects of the product.
   
   
3. Validated Learning: Instead of traditional notions of success, such as hit rates or profit margins, Ries emphasizes the importance of validated learning, i.e., the learning gained through the process of testing and adapting the business model based on customer feedback. This helps entrepreneurs to understand which elements of their business model are viable and which need to be adapted.
   
   
4. Pivot or Persevere: Another important concept is the choice between pivot and persevere. Entrepreneurs must decide whether to stick with their current business model (persevere) or make significant changes (pivot) based on feedback and insights learned. This requires critical thinking and the ability to overcome emotional attachments to an original idea.
   
   
5. Innovative accounting: Ries suggests that startups should use innovative accounting methods to measure progress, set the right metrics and learn what customers really want and are willing to pay for.

Ressources: 

• Ries, Eric. (2011). The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. Crown Business - full book via Internet Archive