I came across an interesting illustration and felt I would key in my thoughts for the same.
Firms and entrepreneurs usually get confused on which is the right way to execute an idea. The Agile or Waterfall development is the question in mind but cost and time is the question at hand. When it comes down to get an Minimum Viable Product done and deployed it’s actually neither of the queries, but weather the idea has references to an already existing system or not.
Let’s say the idea is to build a market place with the actors (customers / sellers / products to be sold / etc) in the structure as a USP (unique selling product), as long as the base execution of process flow remains the same a waterfall model would be best suited.
But if the market place say has a moderator in-between which governs the whole process, which isn’t the conventional way of the platform implementation an agile best suits it’s cut.
The risk is more when your exploring untouched waters
An agile – SCRUM implementation definitely lessens the flaws and assists as a catalyst to pivot with ease, there by making, out of the box implementations yield the best results.
Said that, it comes down to the Entrepreneur / Firm to have good understanding on the practical implementations of the systems to provide a sustainable MVP to scale.