“Learning to see waste and systematically eliminate it has allowed lean companies such as Toyota to dominate entire industries. Lean thinking defines value as 'providing benefit to the customer' anything else is waste.”
Tip: press → for another quote, C to copy, S to share.
The attributes for entrepreneurs cut both ways. You need the ability to ignore inconvenient facts and see the world as it should be and not as it is. This inspires people to take huge leaps of faith. But this blindness to facts can be a liability, too. The characteristics that help entrepreneurs succeed can also lead to their failure.
Famous pivot stories are often failures but you don't need to fail before you pivot. All a pivot is is a change is strategy without a change in vision. Whenever entrepreneurs see a new way to achieve their vision - a way to be more successful - they have to remain nimble enough to take it.
Start-ups make so many mistakes that the challenge to identify the root cause of a failure is tough. But believing in your own plan is probably the worst.
You know how people always talk about how vision is the key to entrepreneurship and perseverance and really seeing what other people don't see? We can actually redeem a fair amount of that folk wisdom.