20VC: The Lean Startup's Eric Ries on The Missing Function of Entrepreneurship in Most Companies, Creating A New Accountability Paradigm & How To Structure Promotions and Compensation In The New Structure

Eric Ries is the author of International Bestseller, The Lean Startup, which changed the language of business introducing terms such as A/B testing, MVP and "pivoting". The book has sold over 1m copies and been translated into over 130 languages launching a global "lean startup" movement. Eric is also the author of the recently released, The Startup Way, detailing transformations at tech titans such as Facebook and Amazon, providing a framework for entrepreneurial management. In addition, Eric is also the Founder & CEO of The Long-Term Stock Exchange and has served as an EiR at the likes of Harvard Business School, IDEO and Pivotal. In Today’s Episode You Will Learn: 1.) What is the origin story of "The Lean Startup" and Eric's realizations for the importance of the methodologies presented in the book? 2.) What is the matrix management structure? In which cases does it work well? Where does the traditional structure fall down? How does this affect how startups should think about their structure from day 1? 3.) Why does Eric believe that "we have to create a new accountability paradigm"? Why does Eric believe that most organizations have a pathological fear of failure? How is this conveyed in their structure? What are the consequent dangers of this fear? What does a "productive failure" look like? 4.) How does Eric view the creation and maintenance of culture? How exactly does Eric define culture and what it is to a company? Why does Eric not believe in manifestos! 5.)How can employees determine how committed their employer is to enacting these policies? How can this be reflected in the company attitude to budget? Why does Eric believe that each element of the organization should have independent fluctuating budgets? Items Mentioned In Today’s Show: Eric’s Fave Book: Ancillary Justice Eric’s Fave Blog: Kickstarter Blog As always you can follow Harry, The Twenty Minute VC and Eric on Twitter here! Likewise, you can follow Harry on Snapchat here for mojito madness and all things 20VC. Available in carry-on and check-in sizes, Raden is the case for better, smarter travel. By pairing the lightest and most durable materials with technology, travelers can charge their devices on the go, weigh, and track their cases. Visit Raden.com to use code 20VC at checkout. With purchase, receive credit towards Tablet Hotels for the next year. If a UK listener, head over to Selfridge’s and shop Raden today. The Simba Hybrid. The most advanced mattress in the world. With a unique combination of two thousand five hundred conical pocket springs and responsive memory foam, it offers the perfect support for two people. A mattress that responds to you and your partner’s sleeping patterns. Delivered free, with a one hundred night sleep trial, free returns and a ten year guarantee. Start your free trial at simbasleep.com

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