Iterative product development breaks down a project into small portions, getting customer feedback at the end of each cycle. This approach helps teams learn quickly what works for users and what doesn't, preventing long development cycles where you might build something that misses the mark. Each iteration delivers a working piece of the product that can be tested with real users. The main benefit of iterative development is its flexibility. When customers try a version of your product early, you can incorporate their feedback into the next iteration. This reduces risk by allowing course correction throughout the development process rather than discovering problems after months of work. For product managers, this means making more informed decisions based on real user behavior instead of assumptions. In an iterative approach, each cycle typically includes planning, building, testing, and reviewing with stakeholders. The product improves with each round as the team learns and adjusts.^[1]