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One Up On Wall Street SUMMARY Conclusion Chapter 20 – 50,000 Frenchmen Can Be Wrong

The market, like individual stocks, can move in the opposite direction of the fundamentals over the short term Be optimistic about America and investing in general Market declines are great opportunities to buy stocks in companies that you like You can never predict the market It takes years, not months to produce big results You can make serious money by compounding a series of 20-30 percent gains in Stalwarts Stock prices often move in opposite direction but the long term, the direct and sustainability of profits will prevail Buying a company just because its cheap is a losing strategy Selling an outstanding fast grower because its stock slights overpriced is a losing technique You don’t lose anything by not owning a successful stock Stock doesn’t know that you own it Don’t be attached to a winner Don’t stop monitoring the story If you don’t think you can beat the market then buy a mutual fund Keep an open mind to new ideas Read One Up On Wall Street by Peter Lynch Chapter 19 full su...
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The Lean Startup by Eric Ries SUMMARY Part One: Vision Chapter 3 Learn

Validated learning is the process of demonstrating empirically that a team has discovered valuable truths about a startup’s present and future business prospects

Validated Learning at IMVU

Eric Ries and team were concerned about the company with the following questions: What should we build and for whom? What market could we enter and dominate? How could we build durable value that would not be subject to erosion by competition

Gave themselves a 6 months deadline to launch a successful multi platform add on product

Improved the first terrible version but no one downloaded and used it while continuous improvement as made 

Set revenue target as low as $300 total revenue and increased it over time but realized the product concept and strategy is flawed

Value vs. Waste

Which of our efforts are value-creating and which are wasteful?

Value is defined as providing benefit to the customer and anything else is waste

Validated learning is backed by data collected from real customers

Where Do You Find Validation?

Understand customers better and you will be able to improve your products

Conduct a lot of experiments that can help to move metrics closer to goal

The Audacity of Zero

Postpone getting any date until you are certain of success

Chances of getting an investment with zero revenue is higher than low revenue because imagination and stories can sell

Lessons Beyond IMVU

Launch a low-quality early prototype, charge customers from day one and use low-volume revenue targets as  a way to drive accountability

Everything a startup does is to be an experiment designed to achieve validated learning


Read The Lean Startup by Eric Ries Chapter 2 full summary here 👇:
http://mysweetluck.blogspot.com/2020/05/the-lean-startup-by-eric-ries-summary_31.html

Watch The Lean Startup by Eric Ries Chapter 1 full summary here 👇:
https://youtu.be/KAO5bvR1Ktg

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