The Boring Yet Critical Part of Entrepreneurship is Management and Innovation Accounting (feat Eric Ries part 2)
Comments to Eric Ries “The Learn Startup” Talk, part 2
“What I think is really interesting about these stories about entrepreneurship is that 95% of the time of the movie is spent in act one and act three even though in real life all of the important work of entrepreneurship happens during the photo montage. “ Eric Ries @ Talks At Google 2011, 4:58s
Eric is contrasting the romantic way of looking at entrepreneurship with the reality of the hard work, which includes the bulk of work that is not elected to the become stories to be told — perhaps simply due to the nature of the amount of noise, failures, and learnings before success.
The “photo montage” component of entrepreneurship is where the learning is happening, it’s learning along the way amid the journey for trying to achieve success (from the idea to product-market fit, to a fully scaling business condition and so on). These are situations such as:
- Which customers to listen and how to ignore;
- How to prioritize product features;
- How to hold people accountable, how to measure if what they are doing means progress.
References
Eric Ries, 2011, The Lean Startup at Talks at Google https://www.youtube.com/watch?v=fEvKo90qBns
