When a feature is developed, it can either generate value by creating new revenue, attract new customers or retaining customers. When a feature doesn’t do either of those it is waste and should not be pursued.
Reference
Ries, Eric. The Lean Startup: How Today’s Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses. 1st ed, Crown Business, 2011.
Highlights or timestamps
When developing and improving a product, startups have to distinguish between value and waste. They must find out which features are valuable for their customers and which aren’t.
— ^134c9c from The Lean Startup
Features that don’t do either are wasteful, even if the founders or engineers think they’re the greatest thing ever. Valuable features are those that help the company attract more customers or increase its revenue.
— ^1cde9f from The Lean Startup