London-based Mark Hammonds, member of The Zurich Project, is a value investor with a personal interest in deep value and special situations.
Mark recently put together some notes on his book recommendation, The Lean Startup, by Eric Ries. A few highlights:
The function of entrepreneurship is to learn what customers want
Learn by running experiments to see how customers behave
Knowledge gained will suggest new experiments to run
Don’t just take what customers say they want at face value – customers may not know what they want or be able to imagine the solution.
Anything not providing benefit to the customer is waste. Systematically eliminate it.
Read Mark’s full notes.
Watch Eric Ries discuss The Lean Startup at Google:
About The Author: John Mihaljevic
John Mihaljevic, CFA is a Managing Editor of The Manual of Ideas and a Managing Director of ValueConferences. He has also served as Managing Partner of investment firm Mihaljevic Capital Management LLC since 2005. He is a member of Value Investors Club, an exclusive community of top money managers, and has won the Club’s prize for best investment idea. John is a trained capital allocator, having studied under Yale University Chief Investment Officer David Swensen and served as Research Assistant to Nobel Laureate James Tobin. John holds a BA in Economics, summa cum laude, from Yale and is a CFA charterholder. He resides in Zurich, Switzerland.
More posts by John Mihaljevic