Want to get there faster? Try Value Hacking.

At JumpModel we think of Value Hacking as two distinctly different things. Value Hacking is both a philosophy and also it is a set of actions. The philosophy says, "Let's be obsessive about creating the most benefit for the least cost, zero exceptions". It's a noble philosophy in that if followed, inevitably something great will happen.

But a philosophy doesn't always translate well to the real world. We can't deposit a philosophy in the bank and we definitely can't use it to write a statement of work or get sign off on an idea. So what does Value Hacking look like as a set of actions? How can it be employed to deliver new solutions to age old problems? Value Hacking, whether for digital or elsewhere starts with a high performance feedback loop.

Let me be really clear. Value Hacking means that the feedback loop is the solution. Spend time, effort and money on crafting a loop that will deliver outsized value. The loop makes your investment pay for itself over time. If the loop is flawed, your investment will lose value over time.

Our perspective comes from the world of digital solutions but this framework can be used for any solution. It's simply a way to ensure that your dollars are being maximized to solve a problem. There are three steps to crafting a world class feedback loop, each step having one important output. The names of the steps are not important. Here's the gist:

These steps and outputs may seem self explanatory, however all three have their own respective points of failure that will render them null and void on the spot. But first, a clarification on the steps.

Any time a solution design is attempted the first goal is to get a working loop in place as quickly as possible. Whether your user is simply testing a proof of concept, a prototype or an early version of a solution. Getting there as fast and cheap as possible is key. Then jump into the steps.

Step 1. Users give you feedback on how well the solution solves the problem.

Step 2. Triage the feedback. Figure out which feedback is relevant to solving the problem better and prioritize what must be delivered.

Step 3. Deliver on the feedback. Make changes to the solution based on feedback received.

Do these steps seem intuitive? To some, they might. However each one has a silent assassin waiting to kill the feedback loop and render it obsolete. To ward off the assassin at each step, follow these axioms:

Do not listen to feedback. Watch for feedback. People don't like giving feedback but they can't help reacting. Those reactions are your key to rapidly generating value.

Whomever is triaging must see the big picture. They must understand what problem the solution is solving and what it means to the organization. Don't pass this off. This person or panel of people need to be able to categorize the feedback into groups such as Function, Aesthetics, Adoption, etc. Then they must group the feedback in terms of value to be experienced as well as work effort to deliver. Only with this knowledge can feedback be accurately prioritized. It's no easy task. Also ensure that bias doesn't set in. Over time triage may see things their way. Get some fresh eyes on it. Have someone critique the triage. Bottom line, triage is sexy. Treat it that way.

Lastly, a feedback loop is nothing if it isn't fast. The features produced from feedback all have a "sell by" date on them. Today's business world presents us with problems that are moving targets. The speed of your loop is the only metric that needs to be measured. Fast loops produce valuable solutions. End of story.