Yes both. So this process is repeatable. It’s not uncommon to go through multiple cycles.
Depending on where your starting point is, you may start at the problem/opp space. Do an assumptions map, run some experiments to validate the opp/problem and then you will ideate solutions and then repeat. What assumptions do you have on these solution ideas — experiments, test, validate, etc.
You can also start with an ‘idea’ — what assumptions am I making about the idea, this in itself should uncover assumptions you’re making about the need/problem that it solves. You will likely then want to test that assumption. This may then lead you to do an assumptions map on the problem and repeat the same process as above.
Hope that helps and makes sense.