Time and money are always scarce. I will have to make tough choices in what I develop.
How this helps you
In every process new ideas come up. Try to stick to the minimum set of features your customers need. They don’t know about all the other great things you already have in mind. Go to market, sell your product and service and meanwhile keep surprising them with great new features.
What is it?
The Minimal Viable Feature Set is based on the adagium that less is more. It refers to the product with the smallest amount of possible features that still meets the user needs. This helps to select which features are critical and which can be discarded. In this way you avoid wasting development resources and you reduce the time-to-market.
How does it relate?
There is a saying that if you are not ashamed of the first release of your product you where to late launching it. Many elements of your prototype or initial designs will have features that are nice to have or can be developed at a later time. A minimal viable feature set helps in making tough choices by reducing the money spent on the initial version. Only after success is proven the additional iterations are build. This tool originates from the Agile framework and is also refered to as the Minimal Viable Product.
Your next Waypoint
Be bold and determine which are the key elements of you service and what can you do without. Do you really need a future proof warehouse or can you use your garage to see of the idea works?
Some great resources to discover more about MVPs are the following:
theleanstartup.com/principles as also found in the ‘The Lean Startup’ book