This document provides guidance on early product development. It discusses assessing business potential by building an iterative framework to test assumptions through customer experiments. The next section covers building business value using lean principles to develop minimum viable products and get customer feedback through prototypes. The final section emphasizes evaluating priorities by focusing on strengths, appointing team owners, establishing repeatable processes, using common tools, embracing failure as learning, and building a real business rather than just a product. The overall message is that practical product development involves iterative customer testing to build value while continuously learning and improving.