Day two of The Geeks on a Plane tour had us at the offices of KDDI Web Communications for a full day of presentations on topics ranging from the state of venture capital in Asia and the US, to an overview of the Japanese online games and virtual goods market, to US platforms and social networking. Eric Ries closed out the day with a dynamic presentation about how to run a Lean Startup.
Eric has led two startups — the first startup failed fabulously, and the second startup, IMVU, is profitable and making millions in revenue. The difference? Startup #1 spent $40 million and employed 200 people before there was a launched product. Startup #2 launched a beta product quickly, and continuously released newer and better versions while engaging with customers early and often.
Take Away: The biggest source of waste in any startup is building something nobody wants.
Do yourself a huge favor and see Eric Ries present live if you get the chance. In the meantime, you can view his presentation here.
Tina Tran, Mark Hendrickson, Eric Ries, Larry Chiang, Joyce Kim
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