Part 5 of my summary of Eric Ries´ book “The Lean StartUp“. For part 1 – 4 take a look at the end of the article. Today´s chapter is Measure
A startup´s job is to (1) rigorously measure where it is right now, confronting the hard truths that assessment reveals, and then (2) devise experiments to learn how to move the real numbers closer to the ideal reflected in the business plan.
Accounting is something that has become taken for granted but unfortunately standard accounting is not helpful in evaluating entrepreneurs. Startups are too unpredictable for forecasts and milestones to be accurate.