Build Measure Learn

• Startup needs to:
  1. Decide what your goals are right now (they change over time!)
  2. Analyze them to determine metrics for growth and success
  3. Loop to tune the engine of growth:
     1. Measure current metrics
     2. Conduct Experiments to try and move reality towards
     3. Rinse and repeat until you have tuned your engine
• AKA: “Iterating”
• Put in different terms:
  • Are you making your product better?
  • How do you know?
  • Are the changes you are making affecting the measures you care about?
  • How do you decide what measures you care about?
• Back to first principle: “Is this a business or a hobby?”
• Basic pattern:
  • Use an MVP to get real data to test a belief
  • Make a series of micro changes (parallel or serial)
  • Measure whether metrics are better or worse
  • When you feel like you are not making real progress
  • Perhaps pivot if micro changes are not moving the needle in the right direction
• Start with the highest return (cost/risk/reward) assumption

Illustration