The Build-Measure-Learn Feedback Loop
The Lean Startup methodology revolves around the Build-Measure-Learn feedback loop, a cyclical process designed to accelerate learning and innovation. Startups build an MVP to test hypotheses, measure customer responses, and learn from the data to decide whether to pivot or persevere. This iterative process helps startups navigate uncertainty and reduce waste by focusing on what truly matters. Ries emphasizes, 'The fundamental activity of a startup is to turn ideas into products, measure how customers respond, and then learn whether to pivot or persevere.'