The Lean StartUp - Part Two Steer

In Part Two, the book will examine the concept that was briefly touched upon in Part One, which is Build-Measure-Learn. This concept is a feedback loop, where building leads to a product, measuring leads to data and learning from that data leads to ideas. Afterwards, those ideas can lead to more building and hence, more products which have the effects of a loop. 

As Ries makes clear, all three of this feedback loop, a) Build, b) Measure, c) Learn are equivalent and that not one of these is of more significance than the other. In fact, the view of the author is that the feedback loop must be operated as efficiently as possible and hence, reducing the amount of time it takes to conduct the loop. 

Essentially, in Part Two the concept of Build-Measure-Learn will be examined thoroughly and in order to conduct the first turn of the Build-Measure-Learn loop, a minimum viable product (MVP = prototype) needs to be created. This will make the startup build the MVP, which will gather data and then the startup can learn further to generate more ideas.  

Finally, the main point of the Build-Measure-Learn approach is to figure out whether the startup needs to pivot. If the data and the learning that has resulted from the Build-Measure-Learn approach indicates that the initial assumptions of the startup were incorrect, then it is necessary for the entrepreneurs to change their strategy. In fact, the sooner the loop is completed, the sooner the startup will have the data to consider whether to pivot and hence, less time and money will be wasted.