Choosing a strategy for starting and developing a project

I work on my first serious project. Since practically everything has to be done independently (or by attracting people from the outside, paying with their own savings), then naturally there is not enough time to implement all the ideas. Similarities of realization of my ideas already exist, it is rather difficult to consider them as competitors, but it is possible and even necessary.

How to be in this situation?

1. Run a project with basic functionality, providing the end users with a tool that is more convenient than the competition, gradually reworking and modifying it to the ideal;
2. Or postpone the start of the project, but when everything is ready, make a real revolution.

In this and in another case, there are pros and cons. On the one hand, I want to strive for the ideal and not rewrite the project almost from scratch while adding the necessary functionality. On the other hand, new ideas appear every day and in the end, I want to live on something.