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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 Two: Steer Chapter 8 Pivot or Persevere

The change that is needed to make a progress is Pivot. It is a structured course correction to test a new hypothesis. We can improve our judgment by doing repeated test of theories.

Innovation Accounting Leads to Faster Pivots

Failure is prerequisite to learning. 

A pivot requires that we keep one foot rooted in what we have learned so far, while making a big change in strategy to seek even greater validated learning

A Startups Runway is the Number of Pivots it Can Still Make

The number of opportunities it has to make a fundamental change to it’s business strategy

Pivots Require Courage

Do what is right and never surrender to fear. Just focus on delivering what the customers asked for

The Pivot or Persevere Meeting

Consider a pivot if a product development should be more productive or product experiments are not effective

Have a pivot or persevere meeting regularly

A Catalog of Pivots
Zoom-in Pivot - A single feature in a product becomes the whole product
Zoom-out Pivot - A whole product becomes a single feature
Customer Segment Pivot – Solving the right problem for a different customer than originally anticipated
Customer Need Pivot – Discovering other related problems that are important and can be solved
Platform Pivot – Change from an application to a platform or vice versa
Business Architecture Pivot – A startup switches architecture by example going from B2B to mass market
Value Capture Pivot – Monetization or Revenue models
Engine of Growth Pivot – Viral, sticky and paid growth models
Channel Pivot – The sales channel or distribution channel
Technology Pivot – Achieve the same solution by using different technology

A Pivot is a Strategic Hypothesis
Pivots are a permanent fact of life for any growing business. Must continue to pivot even after achieving success

Read The Lean Startup by Eric Ries Chapter 7 full summary here 👇:
http://mysweetluck.blogspot.com/2020/06/the-lean-startup-by-eric-ries-summary_12.html

Watch The Lean Startup by Eric Ries Chapter 6 full summary here 👇:
https://youtu.be/YxcCzX6aTao

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