Home / Quotes / Quote by Eric Ries

Quote by Eric Ries

“If your goal is to make money, becoming an entrepreneur is a sucker's bet. Sure, some entrepreneurs make a lot of money, but if you calculate the amount of stress-inducing work and time it takes and multiply that by the low likelihood of success and eventual payoff, it is not a great way to get rich.”

Quote by Eric Ries

Author

Eric Ries is an entrepreneur born in 1979, known for his Lean Startup methodology, which emphasizes rapid iteration and customer feedback in the success of startups. more

You May Also Like

“Learning to see waste and systematically eliminate it has allowed lean companies such as Toyota to dominate entire industries. Lean thinking defines value as 'providing benefit to the customer'; anything else is waste.”

Thinking Values Company Industry Waste Benefits Customers Providing Toyota

Author:Eric Ries

“Most start-up companies fail and it is smart public policy to help entrepreneurs increase their odds of succeeding. But, the biggest loss to our economy is not all the start-ups that didn't make it: It's the ones that might have been created but weren't.”

Has Beens Helping Might Loss Company Economy Failing Policy Succeed Smart Increase Entrepreneur Odds Might Have Been Public Policy

Author:Eric Ries

“Nowadays people talk about PayPal's founders as prescient geniuses who would inevitably change the world. It was, however, not so obvious that PayPal would taste its first major success by helping people sell Beanie Babies on eBay. But they had a vision, a hope, and the perseverance to try multiple iterations until they got it right.”

People World Trying Firsts Helping Vision Baby Genius Taste Majors Sells Perseverance Obvious Changing The World Founders Multiple Helping People Ebay Paypal

Author:Eric Ries

“Start-ups make so many mistakes that the challenge to identify the root cause of a failure is tough. But believing in your own plan is probably the worst.”

Believe Causes Challenges Mistake Plans Worst Tough Roots Root Cause

Author:Eric Ries

“The attributes for entrepreneurs cut both ways. You need the ability to ignore inconvenient facts and see the world as it should be and not as it is. This inspires people to take huge leaps of faith. But this blindness to facts can be a liability, too. The characteristics that help entrepreneurs succeed can also lead to their failure.”

People World Way Needs Should Facts Helping Ability Cutting Inspire Huge Succeed Entrepreneur Characteristics Leap Attributes Blindness Inconvenient Liability Leap Of Faith

Author:Eric Ries

“The biggest start-up successes - from Henry Ford to Bill Gates to Mark Zuckerberg - were pioneered by people from solidly middle-class backgrounds. These founders were not wealthy when they began. They were hungry for success, but knew they had a solid support system to fall back on if they failed.”

People Ifs Fall Class Support Middle Mark Bills Hungry Backgrounds Middle Class Gates Wealthy Founders Fall Back Support Systems Zuckerberg Hungry For Success

Author:Eric Ries

“The United States is locked in a new arms race for that most precious resource - the future entrepreneurs upon whom economic growth depends. Substantial research shows that immigrants play a key role in American job creation.”

“There is much that public policy can do to support American entrepreneurs. Health insurance reform will make it easier for entrepreneurs to take a chance on a new business without putting their family's health at risk. Tort reform will make it easier to take prudent risks on new products in a number of sectors.”

Can Do Chance Numbers Support Risk Policy Products Easier Entrepreneur Reform Take A Chance Prudent Public Policy New Business New Products Torts

Author:Eric Ries

“There was a study done in the early 20th century of all the entrepreneurs who entered the automobile industry around the same time as Henry Ford; there were something like 500 automotive companies that got funded, had the internal combustion engine, had the technology, and had the vision. Sixty percent of them folded within a couple of years.”

Years Done Company Vision Technology Study Century Industry Couple Percent Entrepreneur Internals Engines Sixty 20th Century Automobile Combustion Automobile Industry

Author:Eric Ries

“When Steve Jobs and Steve Wozniak created Apple computer in a garage in Palo Alto, it heralded the beginning of the PC revolution that ultimately dealt a death-blow to dozens of older companies.”

Jobs Company Revolution Computer Blow Apples Dozen Garage

Author:Eric Ries