To draw an owl, just start with 2 ovals that look like an owl, then fill in the details via quick iterations. Twillio describes this as “There’s no instruction book, it’s ours to draw. Figure it out, ship it and iterate.”
Ted said that while Box’s target customers are enterprises, Box can still approach product releases using this approach.
This applies well to new product development with the goal of getting to the product with features that maximizes customer value and thus revenue, in a series of quick iterations.
I think key to success consists of
(1) starting with a framework (the 2 ovals) that has a high chance of success
(2) having the discipline to identify likely failure of the framework if that occurs, and then abandon the project quickly, not be bothered with the sunk cost.