Iteration

Iteration. How do you feel about that word? Iteration. It is not a very common word and, for that reason, I really like it. Since the word is not used very much, we can apply it for a very specific purpose.

The word comes out of the realm of mathematics and computation. Merriam-Webster's dictionary defines iteration as, “A procedure in which repetition of a sequence of operations yields results successively closer to a desired result.”

I believe the word iteration is absolutely central to entrepreneurship. I think the recipe for successful entrepreneurship is the following: Act – Adjust – Act – Adjust – Act – Adjust. And on and on it goes.

The repeating of action and adjustment is the process of iteration. The only other important element would be perseverance. If you keep iterating long enough, success is inevitable.

Admittedly, iteration is not any different than trial and error. The problem is that “trial and error” is an overused phrase. It means a lot of different things.

Like I said in the first paragraph, the word iteration is not well known. So, when it is said, the meaning should be clear.

Last week I posted a blog, about entrepreneurs, from Robert Kiyosaki. Kiyosaki defines iteration as, “The process of repeating and refining a process in order to meet a goal.” Instead of calling it trial and error, we could simply call it practice.

That is what Peter Drucker would probably call it. Let me let you in on a little secret. Drucker said the only thing that bridged the gap between potential and performance was practice. That is why he titled his book The Practice of Management.

Admittedly, practice is an easier word, but it has basically become a cliché. So much so that people actually debate the idea of whether or not practice makes perfect. I say, “Who cares.” What we should be striving for is effectiveness. And, one thing I know for sure is that practice makes effective.

To me, trial and error sounds too scientific. As much as I love science, I feel like it is a domain that is too dry and inanimate.

As far as the word practice, I think it reminds us of what we have to do to get good at baseball or piano. The thing about baseball and piano is that they have predefined rules. So, practicing becomes rather straightforward.

The problem with business is that the rules are not predetermined. You make them up as you go. Sure, there are boundary conditions, as known as laws. However, within the boundaries, you are free to do what you want. So, you run straight into the paradox of choice.

Enter the word iteration. Not only do you need to iterate the necessary behaviors, but you also need to iterate the rules of your game. A deliciously complex challenge. So, I recommend you get started today. As in, right now!