Lean Startup method:

The lean start method, in contrast, is designed to teach you how to drive a startup. Instead of making complex plans that are based on a lot of assumptions, you can make constant adjustments with a steering wheel called the build-measure-learn feedback loop. Through this process of steering, we can learn when and if it is time to make a sharp turn called a pivot or whether we should persevere along our current path.

Startups also have a true north,a destination in mind:creating a thriving and world-changing business. I call that a startup’s vision. To achieve that vision, startups employ a strategy, which includes a business model, a product road map, a point of view about partners and competitors, and ideas about who the customer will be. The product is the end result of this strategy.

Vision – > Strategy  -> Product

Entrepreneurship is management:

acquiring new customers and serving existing ones.we are tuning, trying to improve our product, marketing, and operations; and we are steering, deciding if and when to pivot. The challenge of entrepreneurship is to balance all these activities.

What is startup?

A startup is a human institution designed to create a new product or service under conditions of extreme uncertainty.

Innovation is a bottom –up, decentralized, and unpredictable thing,

It can, but to do so requires a new management discipline, one that needs to be mastered not just by practicing entrepreneurs seeking to build the next big thing but also by the people who support them, nurture them, and hold them accountable.

A company’s only sustainable path  to long term economic growth is to build an innovation factory that used lean startup techniques to create disruptive innovations on a continuous basis.

That is to put the ideas to the test. Leadership requires creating conditions that enable employees to do the kinds of experimentation that entrepreneurship requires. Intuit team develop five hundred experiments per tax season.