Remember when
we say that iteration cycles go forever, it is a consistent and continuous
process of improvement. You can now stop reading this post, we are done here :)
-
So, your CIAs "Critically
Important Assumptions" are valid, your MEVO "Minimum Economically Valuable Offer" is selling.
Any iteration cycle you make after this is the heart of this process
"Incremental augmentation":
Take something that is already selling and make it better by continue adding things to it
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All companies do that all the
time, think about software versions or car versions
Why doing
that?
1-
You add things that people
want, according to what you learn about them and their desires
2-
Allows you to minimize the
risk of making unwanted or outdated
products
3-
The more you adjust it according
to your customers' needs, the more loyal your customers will be, and the more
customers you will get
Notice that:
-
People just love upgrades
-
Make small changes so you can
roll-back easily when things go in the wrong way
-
You will sometimes need to
make a basal, major, structural change in your business, like launching a new
product, add another service, or expand your market segment. This "incremental
augmentation" thing doesn't work here.
Any update that will change the market of the
business (the targeted customers) needs a new value creation study and needs to
be reapproved and revalidated
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