1. Entrepreneurs Are Everywhere

   You don’t have to work in a garage to be in a startup.

2. Entrepreneurship Is Management

   A startup is an institution, not just a product, so it requires management, a new kind of management specifically geared to its context.

3. Validated Learning

   Startups exist not to make stuff, make money, or serve customers. They exist to learn how to build a sustainable business. This learning can be validated scientifically, by running experiments that allow us to test each element of our vision.

4. Innovation Accounting

   To improve entrepreneurial outcomes, and to hold entrepreneurs accountable, we need to focus on the boring stuff: how to measure progress, how to setup milestones, how to prioritize work. This requires a new kind of accounting, specific to startups.
   

5. Build-Measure-Learn

   The fundamental activity of a startup is to turn ideas into products, measure how customers respond, and then learn whether to pivot or persevere. All successful startup processes should be geared to accelerate that feedback loop.