13. Measure and Learn
Startup success can be engineered by following the process, which means it can be learned, which means it can be taught. – Eric Ries
In his book, The Lean Startup, Eric Ries describes a startup company as a human institution designed to create a new product or service under conditions of extreme uncertainty. He outlines a process to help deal with this uncertainty where a tight feedback loop is created around the creation of a minimum viable product (MVP). He argues that being able to react, fail fast, and use a data-driven approach to measurement assists in decision-making that is based on reason rather than emotion. This ability to learn from small experiments can be seen as a form of business agility – the ability to pivot quickly in the face of ever-changing circumstances. In lean terms, this feedback loop can be summarized as Build, Measure, Learn.
The cultural and human aspects of this process cannot be overlooked. Uncertainty and...