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Forget writing that business plan. Design an experiment instead. So many products and companies fail because the assumptions in their beautiful business plans were just wrong. So stop writing and start testing. No one knows this better than Eric Ries, author of The Lean Startup and founder of the Long Term Stock Exchange. After his first product failed, he developed a new method of product design based on running small, fast experiments, measuring the results, and learning from them. It’s a system built on data, not assumptions, and it works with almost everything — from app development to airplane design. It starts with establishing your own measure of success — then experimenting, improving, and trying over and over again. The feedback loop never stops.

“There’s no magic fairy dust. I don’t have any superpowers. This is about systems and methods.”

— Eric Ries
About the guest:

Eric Ries is the founder of the Long Term Stock Exchange and author of The Lean Startup and The Startup Way.

About the host:

Reid Hoffman is the host of Masters of Scale. A Silicon Valley entrepreneur and investor, he’s known for his spot-on insights on how to scale a startup. He’s a partner at Greylock and co-founder of LinkedIn, and co-author of the best-selling Blitzscaling and The Startup of You.

Also featured in this episode:

Pierre Bohanna is a prop designer for Warner Bros. His designs have been featured in films like Titanic, The Dark Knight and the Harry…

Nick Means, director of engineering at GitHub and a passionate student of aviation history. He is host of the podcast “Managing Up.”

Every business is an experiment. For the experiment to succeed, you need to test your hypothesis, measure the results, and follow wherever they lead.

Transcript of Masters of Scale: Build. Measure. Learn.
Masters of Scale’s mission is to democratize entrepreneurship. Launched in 2017 as a weekly podcast featuring Reid Hoffman, we’re now two weekly podcasts — Masters of Scale with Reid Hoffman, and Masters of Scale: Rapid Response, hosted by Bob Safian — as well as an award-winning daily learning app, a best-selling book, virtual and live events, and more, serving a global community of founders, funders, and leaders looking to innovate at scale.
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