The MVP Method

 Definition:

Create a first iteration of your product with the absolute minimum set of features that would make it valuable and useful, at least to early adopters.

Example:

The first version of the iPhone did not support cut-and-paste, it offered a very limited number of apps, it did not support notifications or the uber-popular Microsoft Exchange email back-end, and it required iTunes to activate/use it. But people wanted it so much that they did not care about the missing functionality‚ a great indicator of interest.

Resources:

Rapidly: helps you work out which ideas you should invest in, by tracking your experiments and using data to tell you what will work.