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Lean Analytics: Use Data to Build a Better Startup Faster (Lean Series), by Alistair Croll, Benjamin Yoskovitz
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Marc Andreesen once said that "markets that don't exist don't care how smart you are." Whether you're a startup founder trying to disrupt an industry, or an intrapreneur trying to provoke change from within, your biggest risk is building something nobody wants.
Lean Analytics can help. By measuring and analyzing as you grow, you can validate whether a problem is real, find the right customers, and decide what to build, how to monetize it, and how to spread the word. Focusing on the One Metric That Matters to your business right now gives you the focus you need to move ahead--and the discipline to know when to change course.
Written by Alistair Croll (Coradiant, CloudOps, Startupfest) and Ben Yoskovitz (Year One Labs, GoInstant), the book lays out practical, proven steps to take your startup from initial idea to product/market fit and beyond. Packed with over 30 case studies, and based on a year of interviews with over a hundred founders and investors, the book is an invaluable, practical guide for Lean Startup practitioners everywhere.
- Sales Rank: #15808 in Books
- Published on: 2013-03-21
- Original language: English
- Number of items: 1
- Dimensions: 9.00" h x 1.50" w x 6.00" l, 1.64 pounds
- Binding: Hardcover
- 440 pages
Amazon.com Review
Q&A with Alistair Croll, coauthor of "Lean Analytics: Use Data to Build a Better Startup Faster"
Q. Why is your book timely-- what makes it important right now?
A. There's been a flurry of startup activity made possible by the lowered barriers to entry of cloud computing, social media, and app platforms. But there's less accountability. If you look at the numbers, it's a bloodbath: you're almost certain to fail. One reason for this is that founders are delusional. But data doesn't lie, and the right data in the right place at the right time can change your business (to steal from Steward Brand.) That's what this book is about-- using data to build a better business faster.
Q. What information do you hope that readers of your book will walk away with?
A. We have a ton of concrete data-- ideas of what's normal; what metric to watch at what time; and so on. But more than any of this, we hope they'll come away with an experimental eye, realizing that they're not building a product. Instead, they're building a tool to figure out what product to build.
Q. What's the most exciting and/ or important thing happening in your space?
A. That nearly every mature industry is ripe for disruption. An entrepreneur, working within a host organization, can absolutely revitalize the business (as Procter & Gamble did when it introduced Swiffer, for example.) And a small business can tackle giants or entrenched competitors by being more agile (as Uber did to taxis, or Airbnb did to hotels.) Mops, taxis, and rentals aren't new. But they're hugely susceptible to change if it's applied in a measured, careful way.
Review
"A vital part of the founder's toolkit. If you're starting a company you need to read this." - Mark Peter Davis, Venture Capitalist & Incubator
"Stop thinking and just buy this book. It's the secret sauce. If you're an entrepreneur, it's required reading." - Greg Isenberg, CEO, fiveby.tv and venture partner, Good People Ventures
"Lean Analytics is the missing piece of Lean Startup, with practical and detailed research, advice and guidance that can help you succeed faster in a startup or large organization." -- Dan Martell, CEO & Founder of Clarity
"Lean Analytics is packed with practical, actionable advice, and engaging case studies. You need to read this book to understand how to use data to build a better business." - Paul Joyce, Co-founder & CEO Geckoboard
"Lean Analytics shows you how to move insanely fast by getting your metrics to tell you when you're failing and how to do something about it. Tons of honest, meaningful advice -- a must read for founders that want to win." - Sean Kane, Co-Founder F6S and Springboard Accelerator
"Your competition will use this book to outgrow you." -- Mike Volpe, Hubspot.
"Alistair and Ben have written a much-needed dose of reality." -- Brad Feld, Foundry Group & Techstars
"This is applicable to organizations of all shapes and sizes, from small business to big government." -- Jennifer Pahlka, Code For America
"No innovator should be without this book." -- Eric Ries, The Lean Startup
"This book is a huge gift to our industry." -- Zach Nies, Rally Software
"As useful for today's multi-billion dollar companies as it is for entrepreneurs." -- John Stormer, Salesforce.com
From the Inside Flap
Whether you're a startup founder trying to disrupt an industry or an intrapreneur trying to provoke change from within, your biggest challenge is creating a product people actually want. Lean Analytics steers you in the right direction.
This book shows you how to validate your initial idea, find the right customers, decide what to build, monetize your business, and spread the word. Packed with more than 30 case studies and insights from over a hundred business experts, Lean Analytics provides you with hard-won, real- world information no entrepreneur can afford to go without.
- Understand Lean Startup, analytics fundamentals, and the data-driven mindset
- Look at six sample business models and how they map to new ventures of all sizes
- Find the One Metric That Matters to you
- Learn how to draw a line in the sand, so you'll know it's time to move forward
- Apply Lean Analytics principles to large enterprises and established products
Most helpful customer reviews
5 of 5 people found the following review helpful.
Perfect Menu for the New to Entrepreneurial-ship
By Margue L. Hunt
Perfect Menu for the New to Entrepreneurial-ship ...
I have encountered many GREAT new ideas throughout my career in Technology & Retail that never transitioned to reality, not because of lack of passion, but due to stunted entrepreneurial capability in the captain of the ship. LEAN ANALYTICS Use Data to Build a Better Startup Faster will enable the New to Entrepreneurial-ship, formally educated or not. If you are embarking or are already deep into a Start-Up adVenture, Alistair Croll & Benjamin Yoskovitz share with you what you to incorporate to be successful at reaching that end objective and do it faster, better and in the longer-term cheaper.
Relevant evidence will help build confidence into the Start-Up enterprise; it will assist in validating what you already know, set direction and re-direction when it is needed - it will also help build the confidence of others in you & your Start-up to succeed. Understanding the value of establishing perception in others that will prove to be gateways to your Start-Up's success is a key element within the concepts shared and done in such a way that makes sense to the lay-person; you will not find a similar approach to this message in any of your typical analytics, statistics, performance management or six sigma book.
There appears to be a magical-season for Start-Ups between bootstrapping and initial investment that will make or break the potential for that GREAT new idea to move through infancy; many all-out ignore data to assist in decision making and other become petrified by a drive for data perfection before setting direction. There are real risks to over/under complication; following the step laid out in this book will set you up to have a practical evolution in your relationship with measurable evidence.
The only suggestion that I have (& the reason for 4 versus 5 stars) and that I will be doing for the Start-Ups that I work with is to have a summary map of the book that allows the reader to check-mark what they have already accomplished and move forward to that that section of the book that aligns to where they are in their evolution of their business. This recommendation speaks to the diversity of Start-Up businesses & their entrepreneurial capability that I believe this book was written for; the book is comprehensive in content for the audience, but usability for a population that wants to move fast may not get anchored in Chapter 1 and it would be a tragedy to lose the opportunity to enable the GREAT new ideas and the captains of the ships.
2 of 2 people found the following review helpful.
Startups are all about execution, and here's the science of execution
By John Whitlock
This book has several gems. Highly recommended.
Focusing on the One Metric That Matters forces you to run targeted experiments, to find the hard truths about your product, and to push things forward.
The model of startup phases was very useful. It argues that successful startups move from from empathy to stickiness to virality to revenue to scale. It gives useful criteria for determining which phase you are in, how to decide to move to the next stage, and why you should stick around in your current phase for as long as it takes.
I loved the practical advice for important metrics for each phase, what your "line in the sand" should be for the metrics, and a strategy for maintaining the metric after you've moved to the next phase.
The discussion on types of business and the applicable metrics and case studies is gold. I found the advice for internal entrepreneurs to be spot on, and a good complement to The Innovators Dilemma.
I was hoping for some practical advice on analytics packages, aggregating analytics, and presentation. There is a little bit there, on recognizing vanity metrics, and using the first- and second-order derivatives to get actionable analytics. I found it lacking on actual recommendations of software I could buy or license. However, when I went to investigate online offerings, I was able to quickly determine if a package fit my startup's phase and business type. The framework made it easier to make my own choices, and to recognize that I'm going to have to do some of the work to create analytics that apply to my projects. I imagine the different vendors will focus their pitches toward Lean Analytics readers in the future.
I expect this book will earn a place on most founder's shelves, next to the Lean Startup and others, but with a lot more bookmarks and notes in the margins.
1 of 1 people found the following review helpful.
Making data less complex and daunting
By Marc Abraham
Lean Analytics is a great fit within the “Lean Startup” movement. The book provides a very comprehensive overview of the different metrics worth tracking and – most importantly – offers a clear rationale as to why certain metrics should be tracked for a specific business model at a given stage.
Before going on to explore how metrics can be applied to different business models, the book does a great job in explaining what makes a good metric:
Comparative – Being able to compare a metric to other time periods, groups of users, or competitors, helps you understand which way things are moving.
Understandable – If people can’t remember it and discuss it, it’s much harder to turn a change in the data into a change in the culture.
A ratio or a rate – Ratios or rates tend to be easier to act on, they are inherently comparative (see the first characteristic above) and they are good for comparing opposing factors.
Changes the way you behave – What will you differently based on changes in the metric?
The thing I liked most about Lean Analytics is that all of it makes perfect sense. The book provides a well thought through approach to making sense of something that can be complex and challenging at times: data.
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