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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 6 Test

A minimum viable product helps entrepreneurs start the process of learning quickly

It is the fastest way to get through Build-Measure-Learn feedback loop

Why First Products Aren’t Meant to Be Perfect

Before you sell products to the mass market you must sell to early adopters

You don’t need perfect solution to capture their attention

The Video Minimum Viable Product

Dropbox’s competitive advantage is that it is extremely hard to replicate the service

Drew made a video to demonstrate how Dropbox works to win the early adopters and it worked

The Concierge Minimum Viable Product

Food on The Table CEO Manuel Rosso runs a company that creates weekly meals plans and grocery lists then hooks into your local grocery stores for best deals

They started off by serving only one customer in person without any system and recipes

Instead of marketing to millions they served only one

They learned every week to improve the product

Only invested in automation when one to one in person service costs increased

Pay No Attention To The 8 People Behind The Curtain

Max and Damon created Aardvark a series of functioning products to solve answering subjective questions

All the early prototypes failed

The sixth prototype became Aadavark

Started to scale the company and sold it to Google for $50Million

The Role of Quality and Design in an MVP

Focus energies on producing outcomes that customer perceives as valuable

Sometimes MVPs are seen as low quality products and you must see which attributes customers see as low quality and fix it

Speed bumps in Building an MVP

Legal issues, fears about competitors, branding risks and the impact on morale

The only way to win is to learn faster than anyone else

From The MVP to Innovation Accounting

Do not give up hope

MVP is the first step of learning

Read The Lean Startup by Eric Ries Chapter 5 full summary here 👇:
http://mysweetluck.blogspot.com/2020/06/the-lean-startup-by-eric-ries-summary_5.html

Watch The Lean Startup by Eric Ries Chapter 4 full summary here 👇:
https://youtu.be/YfciX4gpujA

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