Iteration Accounting

How do you know if the iterations you are making to your product are actually helping your users?

Before you make any changes to your product, you have to ask yourself what metric is it that you are trying to improve. You must have concrete tangible data on this metric before you decide to make any changes to your product.

If you are simply making changes on hunch, it will most likely be waste of time and effort.

It becomes absolutely necessary that you track your most important metrics then make changes accordingly in the hopes that your iterations will significantly improve that metric.

A way to track your progress is through iteration accounting. And no, it is not as boring as regular accounting but it is a ledger of your progress. It consist of very basic information on all the iterations that you have made to your product since you launched your MVP. It can simply be an excel sheet with the following fields: Date of Implementation, Iteration Details, Metric to be moved, Before, After.

Date of implementation: This field shows the date you implemented the iteration to your product.

Iteration details: briefly describe the changes you made to the product.

Metric to be moved: Describe the mtric you are trying to move with this iteration. Example: signups, uploading profile pic

Before: The data or numbers on this metric before the changes were made.

After: The data or numbers on this metric after the changes were made to the product.

Use this sheet as your golden ticket to future iterations and keep adding to this list. This type of account will give you the reality check and prevent you from deviating too much from what’s important ie your users.