This article originally appeared in the Venture Capital Journal, a Thomson Reuters publication.
Eric Ries, author of the “The Lean Startup”, offers a worthy attempt to bring the scientific method to the often intuitive exploration of young companies.
What leads most startups astray is the lack of a disciplined, empirical procedure for making decisions, says Ries, who also writes on the blog Startup Lessons Learned and is a 2010-11 entrepreneur-in-residence at Harvard Business School.
Ries is by equal measure upbeat and cautionary. He sees a worldwide renaissance of entrepreneurialism, but worries about wasted, misguided efforts.
Venture investors take heart. He has an answer, which he details in the October 2011 issue of Venture Capital Journal.