So I recently read The Lean Startup: How Constant Innovation Creates Radically Successful Businesses by Eric Ries.
To caveat the ‘fail faster, learn faster’ mentality though – individuals should only start companies if they truly believe these businesses can create value for consumers and profitability for investors. Although there is a lot of seed money and angel investors at the moment looking to take advantage of the thriving start-up scene and promise of ‘unicorns’, I would remind people that most new businesses still fail or grow to a marginal level – therefore not returning on the initial investment. ‘Doing A Start-up’ seems to have become an ambition or goal with the same emphasis and occurrence as ‘running a marathon’ or ‘living/studying in a foreign country’. However, owning your own business is not a tick-box off necessary millennial life experiences. It’s a lifestyle, career choice, and full commitment. So yes, Build, Measure, and Learn faster. But also be persistent, committed, and faithful to your start-up. If you plan on giving up easily, it wasn’t a business worth starting in the first place.
Eric also has a blog: http://www.startuplessonslearned.com