Build a proper metric system for your product.
from The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses by Eric Ries
Having a proper metric system in place is essential to build a product without wasting money and time.
How to Apply This
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Read about the cohorts to understand how they work.
Look on the internet for more information. -
Define what type of metrics will validate your hypothesis.
Define what value you expect to have. -
Establish the baseline.
Build the first version of your product and measure the value of the metrics. -
Tune the engine.
Improve your product in order to get the numbers you defined at the beginning. -
Make the decision.
Keep the product and develop it further, or pivot.
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