The Iteration Cycle

This is a preview of a concept contained in The Personal MBA by Josh Kaufman, a book that will help you master the fundamentals of business, hone your business instincts, and save a fortune in tuition. The Personal MBA distills the most powerful principles of business and delivers them quickly and concisely. Order your copy now…

What is the “Iteration Cycle”?

“I have not failed. I’ve just found 10,000 ways that won’t work.” — Thomas A. Edison, prolific inventor

Key Points:

• The iteration cycle is a process that you can use to improve anything over time.
• It has six major steps, the WIGWAM method:
  
  
  
  • Watch: What works? What doesn’t?
  • Ideate: What could you improve? What are your options?
  • Guess: Based on experience, which idea do you think will make the biggest impact?
  • Which? Decide which change to make.
  • Act: Make the change.
  • Measure: Was it positive or negative? Should you keep it or go back?
• Iteration is a cycle. Once you do it, you repeat it.
• The more clearly you define what you’re after with each iteration, the better the feedback and the value you’ll receive from each cycle.

Questions for Consideration:

• How are you currently using the iteration cycle?
• Which steps are you doing particularly well?
• Which steps do you typically skip?

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