The product development lifecycle
The XC uses the "Build-Measure-Learn" lean startup feedback cycle to quickly and continuously de-risk and improve the things we work on. This cycle reduces the likelihood of wasting time, money, and effort designing and building something that is not valuable, desirable, or feasible.
The Build phase involves developing the bare minimum product, service, or feature that will allow the team to test key uncertainties or hypotheses in order to learn. There are a couple of steps that occur during Build:
Test examples: Interview script, value proposition, prototypes, MVP, usability tests, unit tests.
The Measure phase is centered around collecting and interpreting your initial metrics to determine if meaningful progress is being made (or not). It involves:
Measurement examples: Customer observation/interviews, split tests, real-time monitoring, funnel analysis, cohort analysis, search engine marketing.
The Learn phase is all about next steps. Based on the knowledge gained, should the team pivot (change some or all aspects of its strategy), or persevere (continue forward with the same goals)? Some considerations for this phase are: