{"id":1195,"date":"2021-05-13T09:28:34","date_gmt":"2021-05-13T09:28:34","guid":{"rendered":"https:\/\/never-stop-learning.online\/?p=1195"},"modified":"2022-08-23T14:45:22","modified_gmt":"2022-08-23T14:45:22","slug":"eric-ries","status":"publish","type":"post","link":"https:\/\/never-stop-learning.online\/en\/eric-ries","title":{"rendered":"Eric Ries"},"content":{"rendered":"
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\"Eric<\/p>\n<\/div><\/div>\n

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I learned that from Eric Ries in the Power MBA
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Career, founded companies & learnings by Eric Ries<\/h3>\n<\/div>\n<\/div><\/div>\n
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Profile Eric Ries:<\/strong><\/h3>\n

\"Nationalit\u00e4t\"Country of birth: USA<\/p>\n

\"Geburtsjahr\" Birth year: 1978<\/p>\n

\"IconPublished Books: The Lean Start up<\/a>; The Startup Way, The Leaders Guide<\/span><\/p>\n

\"aktueller Current Job: Speaker, Entrepreneur<\/span><\/p>\n<\/div><\/div>

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Career:<\/strong><\/h3>\n

The book The Lean Start Up is now 10 years old<\/strong> and has become compulsory reading for every start-up founder. The author Eric Ries started his career at the start-up There.com as a software engineer<\/strong>. It was there that he discovered his passion for start-ups. Four years later, he and his colleagues founded the start-up IMVU<\/strong>. An instant message service linked to video games. One of the investors was Steve Blank, the founding father of the Lean Start Up<\/strong> movement, so to speak. There, Eric Ries learned a lot about customer feedback and quick small tests to test hypotheses.<\/p>\n

The book The Lean Start Up<\/strong> emerged from the experiences of the IMVU period. After several years as a speaker and consultant, Eric Ries founded another start-up – The Long Term Stock Exchange<\/strong>. A national stock exchange that helps companies and investors invest in long-term vision. Eric lives in San Francisco<\/strong> with his wife and two children.<\/p>\n<\/div><\/div>\n<\/div>\n

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5 Learnings from Eric Ries<\/strong><\/h2>\n
\n1.<\/span> Find your business model<\/strong><\/span>. The only thing you have to do as a start-up is to find a profitable and scalable business model. To do this, you use the Lean Start Up approach and test your ideas quickly and cheaply.<\/p>\n<\/div>\n2.<\/span> Think MVP.<\/b><\/span>If you wait until you have created the perfect product, it is usually too late. Why? Because you didn’t build the product on the customer, you don’t have any more money for another product or the competition is just passing you in the Porsche. Live according to the motto: “Done is better than perfect.” Build products that reflect the core function of your solution, that’s all you need at the beginning.<\/p>\n3.<\/span> Talk to your customers.<\/strong><\/span> Go out and interview your potential customers. Don’t wait until you have a finished product. Talk to people right away. Get constructive feedback and use it to build the MVP. Then talk to the customers again and adjust your MVP. And don’t be afraid that someone will steal your idea – everyone has ideas a hundred times a day. But the implementation is what matters.<\/p>\n4.<\/span> Test as much as you can.<\/strong><\/span> Work with hypotheses. Test your thinking as often and as quickly as possible. Nowadays you can set up a Facebook or Google Ad within 15 minutes and receive immediate feedback.<\/p>\n5.<\/span> Be quick.<\/strong><\/span> Do you remember Studi VZ, localists, etc.? Facebook devoured them all through lightning scaling. It no longer counts to be the biggest, but to be the fastest. Do not try to build strategies or systems for years at the beginning, follow the path of the customer and the turnover. So you will stay in the market much longer than the other way around.<\/p>\n
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\"LTSE<\/strong>The Story of the Long Term Stock Exchange<\/strong><\/h2>\n

Eric Ries already complains in his book \u201cThe Lean Starup\u201d about the short-term motivation<\/strong> of many start-ups. 2-5 years to make the thing big and then go for an exit<\/strong>. This way of thinking cannot create great visions and long-term changes<\/strong>.<\/p>\n

That is why he founded the Long Term Stock Exchange (LTSE) in 2015. A national stock exchange that brings together companies and investors who want to work and invest together on long-term visions.<\/strong> In 2019, the LTSE was approved<\/strong> as a national stock exchange by the Securities and Exchange Commission.<\/p>\n

The guidelines<\/strong> for being listed as a company on this exchange include the following points:<\/p>\n

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  1. Long-term focused companies should consider a broader group of stakeholders and the critical role they play in each other’s success.<\/li>\n
  2. Companies with a long-term focus should measure their success in years and decades<\/strong> and prioritize long-term decisions.<\/li>\n
  3. Companies with a long-term focus should adjust executive and board member compensation<\/strong> to reflect long-term performance.<\/li>\n
  4. Boards of directors of long-term companies should deal with long-term strategies<\/strong> and monitor them explicitly.<\/li>\n
  5. Long-term focused companies should get in touch with their long-term shareholders.<\/li>\n<\/ol>\n

    It has been possible to invest in listings on the stock exchange since September 2020. Companies can also be listed on the LTSE and other US stock exchanges. Well-known start-ups<\/strong> and companies that are listed on the LTSE belong\u00a0 Strava<\/a>, MIXT<\/a>, molekuleair<\/a>.<\/p>\n<\/div>\n

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    Here`s what you can learn from Eric Ries in the Power MBA<\/a>:<\/strong><\/h2>\n

    \"Eric<\/p>\n

    Eric Ries is one of many world-class lecturers<\/strong> in the 11-month Power MBA continuing education program. The company has made it its business to democratize MBA courses<\/strong> and make them accessible to everyone. Instead of paying thousands of euros for an MBA, the Power MBA costs only \u20ac 1000. There are 15 minute lessons every day<\/strong> with the best lecturers from today’s entrepreneurial world. Including Eric Ries. Its modules deal with these topics:<\/p>\n