As obvious as it might seem, fast iterations are a great means for moving projects along quickly. It allows the team to solve problems in real time (not just speculatively) and keeps morale high. After all, the product is what matters and pays the bills. And seeing quick results is very rewarding for everyone. How does this make difference? Agile Web Development with Rails writes:

"It’s easier to throw something away if you didn’t spend a long time creating it."