Very insightful book! The book is beneficial not only for the actual startup, but for any organization that is trying to innovate in general. My guess the title could be something around: the effective methods of handling innovation in a competitive and constantly changing business environment. However, it would not look as good 🙂
The most interesting points:
- Minimal viable product. Any innovation need to go through a process of testing of the “product” deem to be beneficial for the customers. This process can be speed up if minimally viable product is produced, tested in the target market, evaluated an measured for its business effectiveness, and adjusted as quickly as possible. This approach helps eliminate creation of an elaborate final product customers would not find useful.
- “Efficiency” understanding from functional perspective. A programmer would feel more satisfied with his or her work if the work day is mostly available for coding. Meetings and evaluations seem destructive and imply inefficiency. However, from the business perspective, the most important is the end result. It is not the inefficiency of work, but working on the wrong thing. (This point is somewhat similar to the theory of constraints – the goal is not keep an expensive piece of equipment working, but satisfying customer needs.)
Additional resources are available at Lean Startup site.