What you should always be doing, in business and otherwise. It means that you are continually repeating a process, tweaking it slightly each time depending on what you learned from it the time before, with the purpose to meet a desired goal, target, or result. You might iterate on an idea, honing the concept until you get it “just right,” or you might iterate on an entire business model, repeatedly improving upon it until you get to the most successful version.

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