Advice about development strategy for plugin?

I am in the process of building a plugin. I have done some competitor analysis for other plugins on CodeCanyon and have determined the kinds of features I need to build to compete with those.

The thing is, there are other features (advanced customisation options) which would set my plugin apart - these other plugins, though they are powerful - do not provide much in the way of form building. From the comments sections of the plugins I can see lots of users are looking for this. Problem is, I think it would drastically slow me down in releasing the product.

My question is… would it be a good strategy to release a kind of MVP - something that does the bear minimum (but well), generate some sales/feedback, and then develop the more advanced features… or build something that will make a bigger splash from first release? My only concern with releasing a simpler product is I don’t want ratings to suffer because it isn’t as powerful as the other plugins available.

Would really appreciate advice on this as it is my first plugin and I’d like to make a good first step. Thanks.

Maybe it’s an idea to only offer that single feature the other plugins are missing? Make your plugin compatible with the others so they can be used with your plugin. So sorta like lot’s of plugins are compatible with Visual Builder, Visual Builder just offers the framework and everyone else can make use of it.

If not, it’s all about return on investment. The longer it takes to build the more sure you have to be (in my opinion) on the invested time being worth it.

That sounds like a decent idea, though I am more committed to producing my own product in its own right, and will be a direct competitor of those products.

There are a couple of products that are favourites in the category. One is making 400+ sales a month, the other ~100. There is no question in my mind after heavily analysing their features, frontends, backends, codebase, and customer comments, that I can produce something much better – though that will, of course, increase my dev time (from about 3 months to 6).

Even if I could generate 50 sales a month I’d be happy.