"The Lean Startup methodology helps entrepreneurs and professionals “manage uncertainty and disruption in a fast-moving world,” and a lot of that really comes down to data-driven experimentation and ultimately: failure. It’s a scary word, but as Heather points out, “Failure ensures that we aren’t going to waste a lot of time or money creating something that isn’t helping anyone in the end.”
The great thing is that any time we put something new out in the world, in front of our audience, or our existing consumer base, we have a feedback loop. We have data, whether that’s anecdotal comments or purchases or clicks, that can show us what works and what may ultimately fail. The crucial thing is to use it, and recognize when it’s time to cut your losses, to make improvements, or to invest more heavily in an idea. Too often I see entrepreneurs continuing to push and spend without analyzing the wealth of information in front of them. If you're not examining failure, you're burning cash."
https://www.forbes.com/sites/karagoldin/2017/06/06/lean-startup-importance-of-failure/#6b9ecbf17b25
The great thing is that any time we put something new out in the world, in front of our audience, or our existing consumer base, we have a feedback loop. We have data, whether that’s anecdotal comments or purchases or clicks, that can show us what works and what may ultimately fail. The crucial thing is to use it, and recognize when it’s time to cut your losses, to make improvements, or to invest more heavily in an idea. Too often I see entrepreneurs continuing to push and spend without analyzing the wealth of information in front of them. If you're not examining failure, you're burning cash."
https://www.forbes.com/sites/karagoldin/2017/06/06/lean-startup-importance-of-failure/#6b9ecbf17b25