Diverse Business Show Blog Talk Radio

Thursday, May 3, 2012

Josh Linkner speaking on Creativity in Detroit at MMPC2012

Josh Linkner is The New York Times Bestselling author of Disciplined Dreaming: A Proven System to Drive Breakthrough Creativity, named one of the top 10 business books of 2011. Josh is the CEO and Managing Partner of Detroit Venture Partners. Together with business partners Earvin “Magic” Johnson and NBA team owner Dan Gilbert, Josh is actively rebuilding urban areas through technology and entrepreneurship. Josh is also Adjunct Professor of Applied Creativity at the University of Michigan.

Josh is the Founder, Chairman and former CEO of ePrize, the largest interactive promotion agency in the world providing digital marketing services for 74 of the top 100 brands.

Prior to ePrize, Josh was the founder and CEO of three other successful technology companies. He has been honored as the Ernst & Young Entrepreneur of the Year and is a President Barack Obama Champion of Change award recipient. Josh is a regular columnist for Fast Company and Inc. Magazine, and his work has been featured in The Wall Street Journal, Forbes, USA Today, and The New York Times.

 Josh is also a Berklee-trained professional jazz guitarist performing regularly in jazz clubs throughout the United States.

Most importantly, Josh is on a mission to make the world more creative.

Michigan Minority Supplier Development Council Provides Access to $17 Billion in Contracts and Job Growth at the 31st Annual Michigan Minority Procurement Conference and Opportunity Fair

- May 2 - 3 conference will feature 325 exhibitors, up 45 percent within 2 years
- Conference draws more than 1,500 attendees from a wide variety of industries
- Professional development sessions available to corporations and minority businesses to help them reach their full potential
Louis Green, President, CEO of the MMSDC

DETROIT, Mich., May 2, 2012 /PRNewswire-USNewswire/ -- The Michigan Minority Supplier Development Council (MMSDC) will host its 31st Annual Michigan Minority Procurement Conference and Opportunity Fair, the largest procurement opportunity fair of its kind, at Detroit's Cobo Center on May 2 - 3.

The conference's theme is "Striving for Excellence, Delivering Value."  The event will offer corporate buyers the opportunity to make connections with the fastest growing segment of the economy.  Minority suppliers can reconnect with customers and potential customers; learn from professional development experts, and showcase their products and services.  There is a tremendous business opportunity as buyers from hundreds of major corporations will attend to seek out certified Minority Business Enterprises (MBEs) with whom to do business.

"We are proud that this event has directly generated more than $1.2 billion in business for our members in the past six years," said Louis Green, President and CEO of the MMSDC.  "The 50 percent growth in exhibitors that we have experienced this year is a testament to the value that our members feel this conference brings to their bottom line."

The MMSDC is one of 37 regional councils affiliated with the National Minority Supplier Development Council.  MMSDC is a privately funded, non-profit, corporate services organization that has provided unique procurement opportunities to corporate members and certified MBEs for over 30 years.  MMSDC provides ongoing growth opportunities, financial support, training and education for its membership.  The organization is nationally recognized for its work with major corporations to promote minority business development and growth. 

The conference, sponsored by automotive supplier Takata, will feature 325 exhibitor booths.  On May 2, the MMPC Professional Development University will offer 36 experts with a full day of seminars designed to develop and grow participating businesses.  Speakers will include representatives from Chrysler, General Motors, Ford Motor Company, Google, and DTE.  The Opportunity Fair, on May 3 is open to business owners for the nominal fee of $50.  

Founded in Detroit in 1977, the Michigan Minority Supplier Development Council (formerly known as the Michigan Minority Business Development Council) has more than 1,200 certified minority businesses and over 300 corporate members working to further its mission to certify minority businesses; provide access to procurement opportunities; and develop capacity for minority business development.  MMSDC is a 501(c) (3) organization.  Proceeds from this event support MMSDC programs and services and are tax deductible.
The MMSDC is nationally recognized for its work with major corporations to promote minority business development and growth.  MMSDC also operates one the Detroit MBDA Business Center, funded by the U.S. Department of Commerce.  The Detroit MBDA center provides rapid growth-potential minority businesses the "keys to entrepreneurial success" through access to markets, capital and strategic consulting.  Visit the MMSDC's web site to learn more about these programs and services at www.minoritysupplier.org.
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Website: www.minoritysupplier.org

Monday, March 5, 2012

Crowfunding: How to get FREE money for your Projects

Crowdfunding pulls together a group of people or community with the same vision towards a cause to raise fund for a project.

For example, you are starting a non-profit organization that aims to help stray dogs and cats then the better way to fund this project is by seeking support from animal lovers. It is best to come up with strategic plan template that explains the organization's mission and vision. It is also best to share your plans on how you are planning to use the money that will be raised. This way, people will be confident that their money is used for a good cause.

Here are 7 useful and effective crowdfunding tips:
1. Identify your target audience - the very first thing that you should do is to identify your target audience. It is very important to present your project to the right people. Animal lovers and vegetarians will surely support a project about cats and dogs and filmmakers and actors will support a project about helping movie crews and staff. In other words, you should know the people who will show interest in your project.

2. You should plan ahead of time - it is very important to come up with concrete plan in advance. This way, you will be able to answer inquiries of people about your project.

3. Pitch your project with love and concern - to be able to gain support for your project, you need to pitch it and you should show love and concern. People should feel the genuine love and care that you have for this cause. You will be able to gain more support when they feel the sincerity in your pitch. You may not be a great speaker but if you speak from your heart then everything will fall into place.

4. Improve your presence in social media networks - you will be able to reach your target audience by improving your presence in different social networking sites like Facebook, MySpace, Twitter and tumblr. It is advisable to connect with them by posting stories, pictures and announcements. It would also be great to include your contact details so they can reach you for their support and donations.

5. Treat your crowdfunding like a campaign - it would be best to treat your crowdfunding like a campaign wherein you need to get the approval of your target audience.

6. Tell a great story - another effective crowdfunding tip that you could follow is telling a great story that will warm people's hearts. It is advisable to share to them some stories that you witnessed personally or probably the main reason why you supporting a particular cause.

7. Show results - it would be great to send updates to people who showed support for your project. You could send some pictures, thank you notes or video clips just to show gratitude to them.
The tips mentioned in this article will help you raise funds for a project that you believe in. Therefore, if you are planning to start a project or a non-profit organization supporting a good cause then you should consider the tips discussed in this article.
Mabel Miles likes to share information on crowdfunding tips and strategic plan template as well as a host of additional services.

Article Source: http://EzineArticles.com/6915731

Saturday, February 4, 2012

Keys To The Golden Door - 10 Steps to Success For Women and Minorities in Business

Researchers from the Atlanta business consultancy, The Hackett Group, surveyed 50 companies with median revenues of $7 billion and a median procurement spend of $3 billion (Wall Street Journal, August 2006). They found that firms that 'focus heavily on supplier diversity' generate a 133 percent greater return on procurement investments than the typical business.

 In these economic times, those numbers can not be ignored.
News of the many positive results of supplier diversity programs boosts support for these initiatives. It can also provide more opportunities for minority- and women- owned businesses (M/WBEs).
Starting with the supply chain, some organizations are establishing relationships in increasingly diverse markets and gaining a competitive advantage in the U.S. and globally.
How can M/WBEs leverage the growing number of opportunities available through corporate supplier diversity initiatives? How can they sustain business relationships leading to the long-term growth of their business?
Here are 10 steps that are guaranteed to produce positive results:
Produce High Quality Products. It is not sufficient for your products to be good. Differentiation of your products and services based on the highest level of quality provides insulation from competitive rivalry, often based on price, and creates customer loyalty. Introduce the unique benefits of your products and services to your customers, highlighting the high quality solutions it offers to their problems.
According to Paul Belliveau, Abbie Griffin, and Stephen Somermeyer, editors of The PDMA ToolBook for New Product Development, there's another way to differentiate your product or service in the marketplace while improving quality: learn from your customers how to innovate.
Nabisco was proactive in this regard. Its engineering group designed modifications to bakery cooking and packaging equipment that increased efficiency and that were not yet available from the equipment manufacturers. Nabisco then contracted with the equipment vendors to incorporate the modifications into prototypes for its use. Eventually, the vendors included many of the Nabisco innovations in their standard designs, which Nabisco would then purchase since the commercial equipment was less expensive than the prototypes.
Whatever your company provides, whether a product or a service, must be both excellent and relevant if it carries your business name.
Price Competitively. Women and minorities in business must challenge the perception that supplier diversity initiatives are in direct conflict with the corporate need to manage cost. Make sure that your products are priced competitively. Always charge a fair price for your product.
It is also necessary for M/WBE's to consistently perform cost-benefit analyses comparing product sales and business relationships. Remember to include the long-term value of the relationship in your analysis. If you are diligent in identifying and providing the benefits your customers require, you will differentiate yourself from your competitors and avoid competing solely on price. Note that some banks communicate financial security, trust, and esteem while other banks bombard us with price-driven advertising. This kind of advertising always leads to commoditization of their products and competition exclusively on price.
Wal-Mart and others have a winning low-price strategy, but they have a well-designed supply chain structure that focuses on consistently reducing cost. If your company does not have the infrastructure or interest in competing on price alone, you need to determine and deliver on the quality and value your clients desire most.
Delight your Customers. Great customer service is not enough. To differentiate your business, the next frontier of competitive advantage is the customer experience. For women and minorities in business, it is necessary to differentiate on product/service quality, price competitiveness and, most importantly, responsiveness and service. It is with service that many of the smaller M/WBE's have the advantage.
Remember to consistently treat each customer interaction as a precious resource. Again, businesses that will thrive in years to come are those that have a clear competitive advantage in the marketplace. Creating an organization that is truly focused on providing superb customer service is the very best way to develop that competitive advantage.
Be responsive. Come earlier. Stay later. Anticipate and solve problems for your customers before they occur. Send a thank you card. Remember birthdays. Apply these techniques to your business consistently, and you will begin to develop an emotional bond with your customers that will not only keep them coming back for more, but will also have them recommending you to their family, friends, and colleagues. Make it personal. In fact, it is personal: it's your business!
STEP IV Build Capacity. When a large client makes a request that a smaller company cannot fulfill because of limited capacity it can be devastating to an existing business relationship. It can be ruinous to a relationship that has yet to be established. There are two ways to rapidly build capacity for woman and minority-owned small businesses: 1) hire more people to execute production; 2) create strategic alliances with companies that supply complementary goods.
For specific project execution, a bias toward strategic alliances is recommended. Begin to look for companies with similar products or services and talk about the possibility of working together. It is not required that these are minority and/or women-owned companies. It is required that you have shared vision and, most importantly, shared values.
Strategic alliances can extend beyond promotions and single projects. They can include joint advertising, marketing exposure, special events, and employee programs that benefit both companies. As a result of a fully integrated approach, the overall value to the consumer increases significantly.
In today's changing business world, using the strength of strategic partnerships to increase capacity, gain exposure, and penetrate new distribution channels is an exceptionally smart approach. So, ask questions. Study the work of potential partners. Once you find a partner who produces work you admire and who shares your values and commitment to service, cherish those relationships for years to come!
Define Your Niche. One of the most widely championed suggestions for small business owners of any ilk is, "focus on what you do well." As entrepreneurs, many minorities and women have a desire to be all things to all people. That's understandable. Sometimes projects that complement your niche pay the bills. However, these projects should be the exception, not the rule.
Creating a niche position in the market allows for good short-term prospects and the potential for long-term business beyond your initial position. It is an excellent tool to differentiate your business and protect your market space from competitive new entrants. A defined market position that targets a niche product or service presents a great opportunity to attract new customers or to offer your services in a new location.
Define what your company does better than any other in your industry, large or small. Find the market for your niche and become the very best.
W/MBEs that successfully embrace these business fundamentals have a pronounced impact on the economy. Consider the following:
- Women-owned firms are growing at a rate nearly twice the U.S. average, contributing $1.1 trillion in revenues to the economy and creating jobs for 7.2 million Americans.
- U.S. companies owned by women provide more than 12 million jobs while Fortune 500s employ less than 11.7 million jobs and are shredding between 200,000 - 300,000 jobs per year.
- The fastest growing segment of small business is African Americans, which experienced a 45% increase since 2002.
- The fastest growth rate of all minority-owned business (African-American) is increasing faster than the national average of 10% per year.
- The number of Latino-owned companies grew 31% between 1997 and 2002.
- In 2002 there were nearly 1.6 million Latino-owned businesses producing nearly $222 billion in revenue.
- The combined buying power of African American and Latino Americans today is more than $1.7 trillion. By 2010, each group independently is expected to reach a buying power of $1 trillion.
Sources: CNN Money, Center for Women's Business Research, Forrester Research, U.S. Census Bureau
This data clearly illustrates the tremendous net positive result on the economy when women and minorities in business are successful. For this reason, the consistent increase in supplier diversity programs in large U.S. firms is positive news. These companies are committed to maximize M/WBE participation by developing equally beneficial business relationships with minority and women entrepreneurs.
Manage your business relationships well. It has been said that great entrepreneurs are "married to their business." Of course, managing a company requires time, energy, and commitment. It is absolutely critical to maintain healthy (and profitable) relationships with all stakeholders. Here are the key relationships that successful entrepreneurs should nurture:
- Customers
- Employees
- Vendors
- Banker/Accountant/Lawyer
- Mentors
Your customers are the critical stakeholders - they hold the most important key to business success; however, relationships with the employees and team members delivering your products and services are equally valuable. Vendors are also vital to the creation of great products and services. Of course, your banker, accountant, and lawyer help to determine sound financial and legal structure for the business. Lastly, it is crucial to have at least one business mentor and/or an advisory board to challenge business decisions and provide direction.
Create an impeccable feedback loop for stakeholders. Never underestimate the value of collecting, analyzing, and responding to the input received from customers and important stakeholders. Nothing can replace customers telling you how they like to be treated, what you are doing right, and what could be done better. But you won't learn anything if you don't ask. Remember, your customers don't expect perfection; they want a relentless pursuit of quality. Respond to their input by implementing relevant changes. If you really want to "wow" your customers, let them know that you heard them.
Get certified. Another key competitive advantage is M/WBE certification. Nothing is more important than high quality products and service; however, if all things are equal, a certified M/WBE status could be your edge. Certification is available through a number of sources for both minority-owned and women-owned firms. These include the National Minority Supplier Development Council (NMSDC) and its 39 regional affiliate councils; the U.S. Small Business Administration 8(a) program and other federal and state government agencies; local (county and city) government agencies; the Women Business Owners Corporation; and the Women Business Enterprise National Council. It is well worth the investment to become certified by a nationally recognized body in order to increase credibility with large corporations and government entities.
Network. It works! The bottom line is that people do business with people they know and like. The brand "You" is important to your business success - your intelligence, honesty, relevance, and value to customer and community needs. Sharp entrepreneurs are keen political and civic participants, always willing to add value to community initiatives like economic development, workforce development, and education. Similar activities allow potential customers to get to know you as both a business owner and an asset to the community.
Continuous improvement is your business strategy. It is absolutely necessary for firms to ensure quality in operations, in business practices, and as individuals. This is necessary to mitigate the challenge of competitors and to boost the sustainability of your business achievements. The continuous improvement philosophy allows firms to cultivate a process-oriented way of thinking and developing strategies, involving people at all levels of the organizational hierarchy (Imai 1986). In an environment of unremitting advancement, change becomes the norm and stagnation is recognized as the adversary of progress. Ultimately, personal and professional advancement emanates from the inside. It starts with the strengthening of the principles and values from an individual and institutional level.
We welcome your feedback. Remember, these lasting and valuable principles provide insight into better business practices to all entrepreneurs.
Continued success to you and your business!
About the author: Rachel Y. Daniel is the CEO of Synergy Marketing Strategy & Research, Inc.. She completes her doctorate at Case Western Reserve University's Weatherhead School of Management in May 2010. Her research interests include brand and organizational trust, and the impact of justice and fairness perceptions on trust.
See webinars too:  http://blip.tv/louisgreenmmsdc

Monday, January 23, 2012

Detroit, Michigan - Diverse Automotive Market Summary from RL Polk

Detroit, Michigan - Diverse Automotive Market Summary

 Source: Marc Bland, Head of Diversity and Inclusion at RL Polk 
Hear him on the Diverse Business show
Top 10 Brands in Detroit (Based on Volume)To help automotive customers gain insight into the impact diverse market customers (African American, Asian, Hispanic) are having on the U.S. light vehicle industry, I will be publishing a set of blogs focused on the top 10 U.S. markets based on volume year-to-date (YTD) through June 2011. Although the top three markets are New York, Los Angeles and Philadelphia, respectively, I will start this series with a focus on the backyard of Polk's global headquarters - the Detroit DMA, also known as "Motown" or the "The Motor City."

Detroit ranks No. 6 overall in the U.S. based on new light vehicle sales YTD. The overall industry is up 17.5%, comparing 2011 June YTD vs. 2010 YTD sales. During the same period, Detroit's gain is approximately 10 percentage points below the national average at 7.3%. Detroit's share of national new vehicle sales is down .25 percentage points at 2.6%. Detroit's top 10 brand list is unique, as this will be one of the few major market top brand lists that does not include Toyota or its high volume Asian peers (Honda, Nissan, Hyundai, Kia) in the top five. Domestic brands represent 90% of the Detroit list (see adjacent table).

Ethnic Share of Detroit DMA New VehicleIn the media, it's often reported that Detroit is approximately 80% African American but as a native Detroiter, the report, if accurate, is for Detroit city proper. When you look at Detroit from a DMA perspective, one must also consider these suburban areas: Birmingham, Bloomfield, Farmington Hills, Novi, Dearborn, the Grosse Pointes and many more. From an automotive consumer standpoint, the Detroit DMA has the following ethnic mix: (AA = African American, AS = Asian, HS = Hispanic and OT = Non-AA, Non-AS, Non-HS).

From a brand perspective, Ford leads the way with one of three new vehicles. Two to watch are Chevrolet (+3.84%) and Buick (+1.64%), since both have strong share but more importantly have posted greater than a 1.5 percentage point share increases year-over-year.

So what are Detroiters driving? The following is a top five model list, based on volume purchased by each diverse market listed. 

Top 5 Rank by Diverse Market (Based on Volume)

Hands down, the "King of the Road" is the Ford Fusion in Detroit. 

This vehicle is ranked No. 1 by every diverse group in Detroit. Congrats to Ford for holding down the top spot in the backyard of their world headquarters. Readers will also notice that only the Asian diverse group selected the high volume Camry and Honda CR-V in their top five.

This is the first diverse automotive market summary series, with the New York DMA on deck. I look forward to hearing your thoughts as I work to increase the automotive market knowledge of the auto public at large.

 by Marc Bland, Product Strategist & Multicultural Marketing Lead, Polk  Hear Marc ON THE SHOW: http://tobtr.com/s/2799669

Tuesday, January 10, 2012

Toyota Honored By National Minority Supplier Development Council

Toyota Honored By National Minority Supplier Development Council For Its Commitment With Diverse Suppliers

Toyota recognized as the 2011 Corporation of the Year for its $1 billion investment, development and advocacy in minority businesses across the United States
Toyota was named the Corporation of the Year 2011 by the National Minority Supplier Development Council (NMSDC) for its continued commitment to minority suppliers and diverse communities. The award recognizes the company’s leadership around supplier diversity that impacts all areas of its business operations. 
“Toyota is honored to receive this award from NMSDC for our efforts to support minority business inclusion and to partner with the organization for more than 20 years,” said Shigeki Terashi, president and COO of Toyota Motor Engineering & Manufacturing North America, Inc. “Our company’s foundation – The Toyota Way – is built on continuous improvement and respect for people and this award reinforces our desire to find ways to strengthen and improve our processes, especially through supplier diversity.”
This is the second time Toyota was awarded this honor, selected by a NMSDC national committee comprised of minority business owners, for its commitment to maintaining a supplier base which reflects the diversity of its customers and the diversity of the team members who build and sell Toyota vehicles in North America.
“This recognition is reserved for corporations that fully embrace the value that minority suppliers bring to the corporate supply chain,” said NMSDC President Joset Wright. “Toyota’s commitment to supplier diversity and minority supplier development is firmly embedded in the corporate culture. Its comprehensive, world-class supplier diversity process is worthy of replication.”
Despite economic fluctuations in the automotive industry, Toyota has maintained its MBE supplier base, as well as a $1 billion commitment to partnering with minority-owned businesses.Through its operations, workforce and supply base, the company is dedicated to reflecting the many different cultures, backgrounds and outlooks of its customers and the communities in which they do business.
“I take great pride in my more than 10 years business partnership with Toyota,” said Berto Guerra, chairman and CEO of Avanzar Interior Technologies. “Toyota has provided my company the support and opportunity to help ensure the growth vitality of my business and the community of San Antonio.”
Over the past several years, Toyota has been recognized as a leader in diversity and inclusion through various awards from Black Enterprise, DiversityInc, the Human Rights Campaign and Hispanic Business. Toyota was the co-winner of the Corporation of the Year award from the National Minority Supplier Development Council in 2004. The company has also been recognized as Corporation of the Year by the following NMSDC regional councils:
  • Tri-State Minority Supplier Development Council which includes Kentucky, Southeast Indiana and West Virginia (2005-2010)
  • South Central Ohio Minority Supplier Development Council (2007)
  • Michigan Minority Supplier Development Council (2009); Co-Winner (2010)*
  • Southwest Minority Supplier Development Council (2010)

About Toyota
Toyota (NYSE:TM) established operations in North America in 1957 and currently operates 14 manufacturing plants, including one under construction in Mississippi. There are more than 1,800 Toyota, Lexus and Scion dealerships in North America which sold more than 2 million vehicles in 2010. Toyota directly employs more than 35,000 in North America and its investment here is currently valued at more than $23 billion, including sales and manufacturing operations, research and development, financial services and design. Toyota’s annual purchasing of parts, materials, goods and services from North American suppliers totals nearly $25 billion. Toyota currently produces 12 vehicles in North America, including the Avalon, Camry, Corolla, Highlander, Matrix, RAV4, Sienna, Sequoia, Tacoma, Tundra, Venza and the Lexus RX 350.

For more information about Toyota, visit www.toyota.com or www.toyotanewsroom.com.

About The National Minority Supplier Development Council
The National Minority Supplier Development Council, one of the country's leading business membership organizations, provides a direct link between corporate America and minority-owned businesses.  It was chartered in 1972 to provide increased procurement and business opportunities for minority businesses of all sizes.  www.nmsdc.org 

*The Detroit-based Michigan Minority Supplier Development Council (MMSDC) has among its members about 130 African American-owned automotive suppliers that gross more than $10 million a year. MMSDC president is Louis Green hosts bi-monthly webinars on Supplier Diversity.  www.MinoritySupplier.com 

Wednesday, January 4, 2012

Tuesday, January 3, 2012

Eric Ries, "The Lean Startup: Innovation Through Experimentation."

Most startups fail. But many of those failures are preventable. The Lean Startup is a new approach being adopted across the globe, changing the way companies are built and new products are launched.

Eric Ries defines a startup as an organization dedicated to creating something new under conditions of extreme uncertainty. This is just as true for one person in a garage or a group of seasoned professionals in a Fortune 500 boardroom. What they have in common is a mission to penetrate that fog of uncertainty to discover a successful path to a sustainable business.

The Lean Startup approach fosters companies that are both more capital efficient and that leverage human creativity more effectively. Inspired by lessons from lean manufacturing, it relies on “validated learning,” rapid scientific experimentation, as well as a number of counter-intuitive practices that shorten product development cycles, measure actual progress without resorting to vanity metrics, and learn what customers really want. It enables a company to shift directions with agility, altering plans inch by inch, minute by minute.

Every so often a business book comes along that changes how we
think about innovation and entrepreneurship... The Lean Startup has
the chops to join this exalted company. Financial Times

“The roadmap for innovation for the 21st century. The ideas in The Lean Startup will help create the next industrial revolution.” —Steve Blank, lecturer, Stanford University, U.C. Berkeley Haas Business School

"The key lesson of this book is that start-ups happen in the present—that messy place between the past and the future where nothing happens according to PowerPoint. Ries's ‘read and react’ approach to this sport, his relentless focus on validated learning, the never-ending anxiety of hovering between ‘persevere’ and ‘pivot’, all bear witness to his appreciation for the dynamics of entrepreneurship." —Geoffrey Moore, Author, Crossing the Chasm

"If you are an entrepreneur, read this book. If you are thinking about becoming an entrepreneur, read this book. If you are just curious about entrepreneurship, read this book. Starting Lean is today's best practice for innovators. Do yourself a favor and read this book." —Randy Komisar, founding director of TiVo and author of the bestselling The Monk and the Riddle

“How do you apply the 50 year old ideas of Lean to the fast-paced, high uncertainty world of Startups? This book provides a brilliant, well-documented, and practical answer. It is sure to become a management classic.” —Don Reinertsen, author of The Principles of Product Development Flow

“The Lean Startup is a foundational must-read for founders, enabling them to reduce product failures by bringing structure and science to what is usually informal and an art. It provides actionable ways to avoid product-learning mistakes, rigorously evaluate early signals from the market through validated learning, and decide whether to persevere or to pivot, all challenges that heighten the chance of entrepreneurial failure.” —Professor Noam Wasserman, Harvard Business School

“One of the best and most insightful new books on entrepreneurship and management I’ve ever read. Should be required reading not only for the entrepreneurs that I work with, but for my friends and colleagues in various industries who have inevitably grappled with many of the challenges that The Lean Startup addresses.” —Eugene J. Huang, Partner, True North Venture Partners

"What would happen if businesses were built from the ground up to learn what their customers really wanted? The Lean Startup is the foundation for reimagining almost everything about how work works. Don't let the word startup in the title confuse you. This is a cookbook for entrepreneurs in organizations of all sizes." —Roy Bahat, President, IGN Entertainment

“Every founding team should stop for 48 hours and read Lean Startup. Seriously stop and read this book now.” —Scott Case, CEO Startup America Partnership

“In business, a ‘lean’ enterprise is sustainable efficiency in action. Eric Ries’ revolutionary Lean Startup method will help bring your new business idea to an end result that is successful and sustainable. You’ll find innovative steps and strategies for creating and managing your own startup while learning from the real-life successes and collapses of others. This book is a must read for entrepreneurs who are truly ready to start something great!” —Ken Blanchard, coauthor of The One Minute Manager® and The One Minute Entrepreneur

“Every entrepreneur responsible for innovation within their organization should read this book. It entertainingly and meticulously develops a rigorous science for the innovation process through the methodology of “lean thinking”. This methodology provides novel and powerful tools for companies to improve the speed and efficiency of their innovation processes through minimum viable products, validated learning, innovation accounting, and actionable metrics. These tools will help organizations large and small to sustain innovation by effectively leveraging the time, passion, and skill of their talent pools.” —Andrea Goldsmith, professor of Electrical Engineering at Stanford University, and cofounder of several startups

“Business is too important to be left to luck. Eric reveals the rigorous process that trumps luck in the invention of new products and new businesses. We've made this a centerpiece of how teams work in my company . . . it works! This book is the guided tour of the key innovative practices used inside Google, Toyota, and Facebook, that work in any business.” —Scott Cook, Founder and Chairman of the Executive Committee, Intuit

About the Author

ERIC RIES is an entrepreneur and author of the popular blog Startup Lessons Learned. He co-founded and served as CTO of IMVU, his third startup, and has had plenty of startup failures along the way. He is a frequent speaker at business events, has advised a number of startups, large companies, and venture capital firms on business and product strategy, and is an Entrepreneur-in-Residence at Harvard Business School. His Lean Startup methodology has been written about in the New York Times, the Wall Street Journal, the Harvard Business Review, the Huffington Post, and many blogs. He lives in San Francisco.