Question: Link Between "Failing Fast" and Productivity

"Failing fast" is the new mantra embraced by entrepreneurs and VCs alike. Need experts to comment on the relationship between the two in a startup environment.

Expert Insight

"Failing fast" is not about failing but testing. The fundamental goal is to prove (or disprove) your product hypothesis quickly. Some interpret this as "ship shit fast" (aka "MVP") but instead it is about testing and refining or pivoting based on what you've learned.

In my experience, founders and product leaders should begin with an understanding of their target buyers and users (personas) and then deeply investigate their problems. What problems can we solve for these personas? Some ideas will fail because the problem is not top-of-mind or the dis-satisfaction isn't enough to warrant a change. Other ideas will flourish because you've hit upon a deep needs that the "the technology first" people have ignored.

Start with a persona and their problems. Define a product idea and test it quickly. That's failing fast.