Why Iteration is a Powerful Way to Build a Startup

Getting things right straight off the bat is no simple task. It’s the reason writers write drafts. It’s the reason athletes practice and train. It’s why a photographer will take a whole memory card of shots just to get the one magic image. And in business it’s the reason we plan.

Before you start a business, you will inevitably (and rightly) produce a business plan about your product, the market, financial estimates, projections of sales and lots of other speculation on the future. Planning forces you to think through a lot of your assumptions about what’s going to happen after you invest your money and time. It ensures you’re not walking blindly into a storm.

But the truth is, no matter how much you plan, there are still many ways you can find you’ve totally misjudged things. Perhaps you price a product wrong incorrectly guessing what people are willing to pay, maybe there are competitors you didn’t know you had, or perhaps you find that people use the product or service in a totally and unexpected way. Like life, business is unpredictable. (more…)