A snippet from Garrett Dimon’s blog about the creation of his app Sifter:

“Looking back, not finding a way to launch something within the first two months is the single largest mistake I’ve made with Sifter. It’s worked out well, but I definitely wish I could have been getting feedback sooner. It’s made a world of difference in helping Sifter evolve to where it is now.”

Totally agree. I think I’m really onto something with the thing I’m working on right now (bookwhen.com). I started it on the 6th Jan 09, and plan on having the first cut online before the end of the month.

By racing to launch, you can ensure your efforts haven’t been focussed on the wrong areas because there’s literally no time to go off on tangents. By launching the bare minimum, there’s the danger that people may dismiss it at first, but it’s all about the long-term and feedback is the only way to keep on the right path for your users.