Joe, great article. One of the most difficult parts in developing technology products is factoring in the cost for the things that we cannot see or touch. Would we make decisions differently if we knew more of the “right” information upfront? For example, if we could know that “building feature A would cost $X, predicted to increase revenue by 10% and has a 65% chance it will deliver the expected value” so we will likely need 2–3 more iterations, would we make a different decision than just knowing that “this feature could potentially solve the consumer’s pain”?
Whilst there is no doubt that learning is an important part, how would you describe what it means to learn by obtaining customer feedback? There are so many ways to obtain this so how do we ensure we are really learning.
Also appropriateness is also key to success. Every product, team and situation in which we are involved in is different.