Drew Houston's approach to launching Dropbox, involving a minimal viable product and a demonstration video to gauge customer interest, led to a 75,000-person waiting list overnight, suggesting this 'test and iterate' strategy is highly effective for new products/businesses.
"Drew Houston who is the CEO of Dropbox when he had the idea of Dropbox he spent only a few months developing a very basic but functional version of Dropbox it was a minimal viable product he just wanted to see firsthand what the reaction of others would be so he created a 4-minute video a demonstration showing how it works and then he sent it to potential customers asking them to put in their details and sign up to the waiting list if they were interested in it that's very different to someone just saying yes I'm interested saying yes is easy to do but signing up and putting your details in you asking people to put their money where their mouth is and his waiting list exploded to 75,000 people overnight"
