In software development, especially in startups, it is very common to develop what is known as a minimum viable product (MVP).
The main benefits of developing a minimum viable product (MVP) is that you can get customer feedback quickly and inexpensively. This way we can, at a very early stage, draw conclusions about whether the product would be suitable and interesting for potential customers.
Ultimately, the aim is to produce a commodity that has a number of essential (minimum) characteristics so that it can be tested by potential users.
The process of creating a minimum viable product (MVP) is always circular (cyclical) and is based on the Lean StartUp Methodology.
This process is based on the swift development of a commodity, so that each iteration can be analysed. The product is changed and/or updated as many times as necessary until it can fit the market and can solve the real needs of the users.
By developing a minimum viable product we minimize the risks, discovering what our users really want before delivering a final version. By asking for their opinion we will save time and money, as we will develop only those features that really meet their needs.
There are several examples of products developed under this methodology. One of the most emblematic is perhaps that of Dropbox.
To learn more about the principles of lean startup, I recommend the book “The Lean StartUp” by Eric Ries.