Build-Measure-Learn Feedback Loop 

What it is

A high-level process for taking a disciplined, iterative approach to creating a new product or service offering, starting with a minimum viable product (MVP).

When to use

When you’re committed to experimenting with a new idea through quick-and-dirty market testing, usually in an entrepreneurial context.

When not to use

When your organization’s culture doesn’t support experimental approaches to market testing and learning from smart failures (i.e., most large organizations).

Tradecraft tips

It’s critical to take a hypothesis-driven approach to this process—that is, declaring in advance what outcomes you think will happen before you take a given approach, so that you can learn from the results.

Source

Eric Ries, The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses (2011). See also Steven Blank, “Why the Lean Startup Changes Everything,” Harvard Business Review, May 2013.

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