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: