Vanity Metrics Are The Numbers You Want

Every Startup Has A Chance To Change The World, By Bringing Not Just A New Product, But An Entirely New Institution Into Existence.

The Minimum Viable Product Is That Version Of A New Product Which Allows A Team To Collect The Maximum Amount Of Validated Learning About Customers With The Least Effort.

Entrepreneurs Always Pitch Their Idea As 'the X Of Y,' So This Is Going To Be 'the Microsoft Of Food.' And Yet Disruptive Innovations Usually Don't Have That Character. Most Of The Time, If Something Seems Like A Good Idea, It Probably Isn't.

At Imvu, The Cost Of Customer Acquisition Through Our Five-dollar-a-day Adwords Campaign Was Less Than Twenty-five Cents. Our Revenue From Those Same Customers Was More Than A Dollar.

What Differentiates The Success Stories From The Failures Is That The Successful Entrepreneurs Had The Foresight, The Ability, And The Tools To Discover Which Parts Of Their Plans Were Working Brilliantly And Which Were Misguided, And Adapt Their Strategies Accordingly.