Minimum Viable Product

A lot of startups have great visions of them taking over the world without validating that there are customers who are willing to buy it.

This is the great area of 'Customer Development' which tries to create a feedback loop of conversation between you and your customers.

The 'Minimum Viable Product' is core to this idea. Build the least amount, get it out there and get feedback. Iterate.

Here's a great video from Eric Riles about M-V-P.